Students of the past realize that momentous history is being made in real-time. The new Roman empire is collapsing and by that I mean the U.S. empire and its vassal states aka. the developed world. The Pax Americana is dead and buried.
Nowhere is that more obvious than in this current election whereby the RepubliCon Party has been usurped by a demagogue, while the Democrat Party has now become the party of the status quo. Under normal circumstances the conservative party is the reactionary party whereas the liberal party is the party of progressive change. Not now.
The causes of collapse are many, but by far the biggest mistake was allowing Third World poverty to cross the transom. The RepubliCon Party of Supply Side Ponzinomics was predicated upon Free Trade and Immigration, so it can come as no surprise that the GOP imploded first. Their entire platform was repudiated by the very base that had voted against their own interests repeatedly for thirty years. The power of Faux News.
Once poverty flooded in, the end was solely a function of time. Those betting on imminent dollar collapse will be disappointed. The deflationary thesis indicates that as the global fractional reserve ponzi scheme collapses there will be a dire shortage of dollar-based collateral. Anything priced in dollars is what will in fact collapse. What happens to t-bonds however is a question of timeframe which I leave to speculators to decide.
This is a momentous historical moment that didn't begin with this election. The vitriol and bile that attends U.S. elections has been rising steadily for decades as special interest groups competed at the public trough. And now the trough is empty.
Nothing lasts forever. Not even a Roman circus.
