The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.
Friday, April 24, 2015
Maximum Harvard Risk
Central banksters are ALL IN for the first time in world history. Even as their global pseudo-recovery grinds to a halt.
One by one throughout this pseudo-recovery, the major central banks have been cutting interest rates to zero and printing money to prop up stock markets. Giving lie to the notion that this was even a recovery.
It was all a vain attempt to stem the relentless deluge of Third World deflation imported at an ever greater rate by multinational corporations. Competition that wipes out local businesses and destroys jobs. Central bank liquidity is merely heroin to a dying cancer patient. Worse yet, the 0% interest rates destroyed millions of jobs via capital substitution aka. automation. Something Bernankenstein's new boss even noted. There are 7.3 billion people on this planet, most of whom are unemployed, the average human being lives on $2.50 per day or less. According to Econ 101, the marginal cost of labour is $2.50/day. What the fuck were these morons thinking?