If At First You Don't Succeed
Ponzi Bonds, 0% Interest Rates, Money Printing and $25 Trillion in Leverage for Speculators Are The New Subprime
When assessing the imbalanced Ponzi Scheme that has resulted from the global system of trade, it's tempting to blame the concept of "Globalization". Which implies that wealthier nations were incapable of trading with less wealthy nations without turning them into slaves. Of course, it didn't have to be that way. Globalization could have lifted all of humanity from poverty, yet in the event it has done quite the opposite. Placed in the hands of corrupt frat boys and billionaires, the temptation to arbitrage the difference between Third World and First World labour was too great to resist. Therefore, they turned Globalization into a zero sum game by transforming developing countries into "supply" and developed countries into "demand" and monetizing the difference, leaving only a pile of insolvent debt separating them. The developed world would be Third World right now if shut off from the ability to borrow and the "ability" to print money AND most importantly, if wages in the Third World were fairly equalized. This is something that everyone will find out the hard way, because, even at this late juncture, neither the "elites", the "educated", nor even the most exploited up and down the Ponzi scheme - NO ONE wants to admit that it's a colossal failure. No one has the fucking balls to admit that this is all going to end. Life without SUVs and Kardashians is wholly unthinkable. And the developing nations, most pathetically they all continue to pretend that one day they too will have a seat at the big table, leaving aside the fact that the "big table" only exists at the expense of their degraded standard of living. A gradual convergence of standards of living between developed and developing nations, occurring over years and decades, would have made way too much sense, so now we're going to have this Big Bang approach of collapsing everyone's standard of living down to a Third World level, as Globalization - the largest bubble in human history - implodes. Good idea.
Sadly, but truly, the real reason why developed nations don't question Globalization is because they all have an inherent unspoken superiority complex. Wealthy nations have "always" been wealthy and poor nations have "always" been poor with few exceptions.
Without imported (wage) deflation, money printing and 0% interest rates would have caused hyperinflation. But the masses at large never stop to ask how can money be *free*. Of course, nothing is free - in return, the Third World gets developed world jobs but at a fraction of the wage. Until it all collapses like a cheap fucking tent.
(G7 nations: U.S. Germany, UK, Canada, Italy, Japan, France)
LATECOMERS ARE POUNDING SAND UP THEIR ASS
The Cult of Superiority
All Ponzi Schemes Collapse With Extreme Dislocation