TedBits: The Economic and Financial NO SPIN Zone
Global Macroeconomic Analysis Through the Austrian Lens
By Theodore (Ty) Andros
An underwater earthquake has occurred in Spain and is quite possibly occurring now in Italy. Killer waves are now headed directly at the central banks and financial systems throughout the developed world and at Europe in Particular. How long until they hit and do the financial equivalent of Japan’s recent tsunami? Socialist bureaucrats and progressives on both sides of the Atlantic are locked in death struggles with Mother Nature. THEY WILL LOSE.
Socialist public servants and banksters in Brussels and Washington are DESPERATELY trying to repeal the law of nature: You MUST produce more than you consume or PERISH. Economic systems which are predicated upon the consumption of wealth rather than the production of it are now on their deathbeds. The obscenity of counting consumption as production, as does Keynesian economics, is exposed for its fundamental flaw -- it counts wealth consumption and destruction as wealth production. How absurd.
The $5 Trillion plus borrowed in the United States since 2008 has been called GDP (Gross Domestic Product). It is nothing of the sort. It is a call on $5 trillion of wealth created by present and future generations and spent on CONSUMPTION and welfare for those in government, their bankster, crony capitalists and their something-for-nothing constituents. Think of what the GDP numbers would have been had this borrowing not been counted as production. This is wealth destruction pure and simple, implemented by RADICAL SOCIALISTS who are in power throughout the developed world. As Norman Thomas prophesized in 1944, it is now all true:
This prophecy is NOW OCCURRING as socialism’s “MISERY SPREAD WIDELY” is in full bloom throughout the developed world. Furthermore, the ECONOMIC and SOCIETAL collapse from socialist policies and UNSOUND money is accelerating!