Having feasted on the Third World's local markets for decades, the globalized infinite growth machine came home hungry. First it bought the political system and then went about destroying small businesses and millions of jobs. Ultimately saddling a hollowed out Middle Class with massive debts and thoroughly unaffordable healthcare and higher education costs. In its final act, the machine will turn on itself.
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Healthcare costs by country:
Student loans (U.S.): The next subprime disaster:
The next trick: Ironically, the profit machine will wipe Wall Street off the map.
The New York Stock Exchange went public in 2006. At that time, High Frequency Trading was non-existent (see Nanex screen shots below). By 2011, HFT was 70% of stock market volume and a huge source of revenue for the NYSE. HFT was the cause of the 2010 Flash Crash and it will ultimately bring down the global financial system. All originating with the NYSE IPO:
NYSE/ICE:
History's Largest Short-covering Rally: A Total Fabrication
Today's casino is driven by 0% interest rates, Fed QE (blue line), short-covering, HFT momentum, and stock buybacks, driving a massive divergence relative to the real economy. All of which has occurred on ever lower volumes (red line):
Any system without accountability - capitalism or otherwise - will fail.
Concentrated wealth is concentrated corruption.
Archaeology 101
Archaeology 101
