Probably the best thing about those promises is they never get kept because they are almost always the wrong promises, short-term in nature at best and never address the real long term problems. Long standing problems seldom get solved without some pain. And that's one of the problems. Few if any have the guts to tell the truth and in turn to address.
It's election season, and that means we're hearing a lot about how to fix the economy.
It can almost seem as if the government is banging its head against the wall making more and more adjustments, only to see the economy stay in slow-growth mode.
Howard Marks, cofounder of Oaktree Capital Group, ran through all of the attempts or promises from politicians and institutions in his latest investment memo.
He found the proposals to be wanting, mostly due to their short-term nature, rather than an attempt to adjust the economy long-term.
"Most ordinary citizens don’t have what it takes to figure out what is and isn’t economically feasible," Marks wrote. "Since we’re in the midst of election season, with promises of cures for our economic woes being thrown around, this seems like a particularly appropriate time to explore what can and can’t be achieved within the laws of economics."
"It’s my goal here to point out how some of the things that central banks and governments try to do – and election candidates promise to do – fly in the face of those laws," he added.
Marks ran through eight current policies and proposals set forth by the government and their failures to adhere to the basics of economics. They were:
businessinsider.com/marks-government-has-no-idea-how-to-fix-economy-2016-5?
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