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."
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...
"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."
Despite overwhelming factual evidence that crackpot Keynesian spending machinations; debasing the currency; interest rate manipulation; globalization; perpetual war; incurring unpayable levels of debt; making $200 trillion of unfunded welfare promises; has created a seething anger across the land, Hillary Clinton and her establishment flunkies propose doubling down on those same failed policies.
In one of the biggest surprises over the weekend, Colombians went to the polls on Sunday to participate in a Yes/No referendum on a recently signed historic peace deal with the FARC leftist guerrilla movement to end more than 50 years of armed conflict (which started in 1964).
Protectionist sentiment is running high in the US, with both presidential candidates citing the need to shield workers from the alleged harmful effects of foreign trade. So it is perhaps ironic that the nation that has the most complaints against it for violating trade agreements is...
The nation’s rogue central bank is essentially a reverse Robin Hood on steroids. If Donald Trump wants to hit the ball out of the park next Monday evening, therefore, he needs to quickly skip over his dog-eared income tax cut plan and put the wood good and hard to the Fed, Janet Yellen, and our unelected financial rulers.