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, February 28, 2017
HEGEMONICS 101: "It Can't Happen To Me"
"Reagan proved that trade deficits don't matter, IF you're a reserve currency hegemon, and IF you enjoy surprise collapse"
I get why people voted for Trump. Hillary was eight more years of ignoring the problem. Trump was for blaming the rest of the world for America's problems. I get it, the latest clown to paper over the real problem:
Here is corporate profits % of GDP (blue) with Manufacturing employment:
Shock Doctrine 1.0 and Shock Doctrine 2.0:
Worse yet, what they all still apparently don't understand is that capital can't survive without demand. There is no such thing as a "Supply side" economy. That is a fantasy for generations who've had it too good for too long. Today's newfound Hegemonics has nothing to do with real supply and demand economics, it has only to do with being a serial conned dunce, wherein:
Quality of jobs was traded for quantity of jobs
Wages for corporate profits
Economy for a casino
Productive capacity for debt
Solvency for insolvency
Real news for fake news
Just today, we learned that Q4 GDP missed estimates. Lots of excuses were made for this of course, but buried in the fine print is the fact that the expanding trade deficit shaved 2% off of annualized GDP.