2018 Alexander Hamilton Awards: Langone and Druckenmiller

[dcollon]

https://www.manhattan-institute.org/html/2018-alexander-hamilton-awards-langone-and-druckenmiller-11214.html

 

[Cigarbutt]

Interesting.

Alexander Hamilton was not afraid of controversies.

Same with Mr. Druckenmiller.

 

"If I were trying to create a deflationary bust, I would do exact exactly what the world’s central bankers have been doing the last six years. I shudder to think that the malinvestment that occurred over this period. Corporate debt has soared, but most of it has been used for financial engineering. Bankruptcies have been minimal in the most disruptive economy since the Industrial Revolution. Who knows how many corporate zombies are out there because free money is keeping them alive? Individuals have plowed ever-increasing amounts of money into assets at ever-increasing prices, and it is not only the private sector that is getting the wrong message, but Congress as well. I have no doubt we would have not gotten such a big increase in fiscal deficits if policy had been normalized already."

 

Alexander Hamilton pushed for more central powers but he was well aware of the potential consequences and strived for balance through separation of powers: "Give all the power to the many, they will oppress the few. Give all the power to the few, they will oppress the many."

 

Can we try capitalism?

 

[VersaillesinNY]

https://www.manhattan-institute.org/html/2018-alexander-hamilton-awards-langone-and-druckenmiller-11214.html

 

Thanks for sharing!

[thowed]

Yes, thank you, this is fascinating - you don't have to agree with all of it, but Druckenmiller usually has something interesting to say.