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.
Tuesday, April 21, 2015
Slave to Corruption: It Was All A Keynesian Plot
The need to invent a false narrative to paper over this historically colossal clusterfuck cannot be overstated. That it will all land at the feet of Ponzi Capitalism, taken to its logical extreme conclusion, is driving the apologists for greed over the top insane. History will be the final arbiter for why this all happened, not the vacuous man-boys who were hand-maidens to global collapse. They will be a cautionary footnote buried beneath a mile of rubble.
Back during the darkest depths of the Great Depression, Comrade John Maynard Keynes penned his Socialist manifesto "The General Theory of Employment, Interest and Money", as to how unionized nurses and school teachers would ultimately take over the world.
Eighty years later and what have they wrought?
They successfully collapsed union participation to an all time low:
They successfully concentrated all wealth in the hands of 1% of the population, that for some reason didn't include them (we didn't say Socialists were smart, did we?):
They convinced Ronald Reagan and the Ponzinomic Neocons that you can borrow your way out of debt: "Reagan proved deficits don't matter" - Dick Cheney
And they maximized profits while collapsing wages (% of GDP):
All while outsourcing the economy to China in exchange for *special* dividends.
Not bad for nurses and school teachers.
This wasn't a Keynesian plot, it was a failed experiment.