Sadly, our self-serving Ruling Elite is only capable of resisting needed transformation by supporting a corrupt, sclerotic status quo. A new leadership class that actually understands the new mode of production may eventually emerge, but only after the corrupt, sclerotic status quo has deservedly collapsed under its own weight.
"We are experiencing deep economic problems and it is the fault of the economics discipline. Their macro theories suck... But, there is no mechanism forcing it to alter its models when they don’t appear to work."
"I think you do have to say that A, it’s failing and that B, I think next year, you’re going to have a bunch of people that don’t get the subsidies that make the premiums a little bit more affordable that are just going to riot because it’s just too expensive for most people if you don’t qualify for subsidies.”
Every ruling Elite needs the consent of the governed: even autocracies, dictatorships and corporatocracies ultimately rule with the consent, however grudging, of the governed. The American ruling Elite has lost the consent of the governed. This reality is being masked by the mainstream media, mouthpiece of the ruling class, which is ceaselessly promoting two false narratives...
Another property crash would further devastate our banks and have an attendant impact on Irish assets – from property to stocks, bonds, Irish bank deposits and government “guaranteed” savings products.
"They know the economy is in the shitter and the average American is not better off than they were four or eight years ago. As a last ditch effort to keep this tsunami of history from rolling over them and sweeping away the last vestiges of their corrupt rule, they have ramped up the printing presses and government spending to try and make the masses believe the economy is hitting on all cylinders. It will fail, and the peasants will be coming for them."
Sterling gold has risen another 3.5% in the last 3 trading days as the British pound continues to be “pounded” on international markets. Sterling is now the worst major performing currency in 2016 and gold the best.
"The hubris of central bankers who somehow believe they will know the precise time to alter easy money policies in order to prevent a monetary disaster is only exceeded by the foolishness of Congressional oversight in granting that authority."