Rule #1 of the liquidation class: Never blame Globalization...
Globalization exists solely to enable multinationals to arbitrage standards of living between the Third World and the developed world for maximum profit. Hence, apologists for exploitation will never blame Globalization as the root cause of today's ongoing economic decline, because it's the sole source of profit for the ever-wealthier rentier class. 100% fake wealth, to be sure...
The reason I no longer react to the various diatribes against "socialism" is because the very people who speak the most vehemently in favour of the status quo are the ones who are liquidating it for special dividends. The system is not being destroyed, it's self-destructing...
Today the IMF is wrapping up its latest confab. The consensus is that Monetary stimulus has run its course which means more fiscal stimulus is required - In the exact same week that the IMF warned on global debt...
"The global financial elite has soured on global central bank policy, believing that it’s now counterproductive, doing more harm than good."
"That was the message on the sidelines of the International Monetary Fund’s annual meeting in Washington, where in informal survey of more than 100 bankers found more than 70% saying monetary policy is now part of the problem instead of a solution."
There is growing recognition from economists that the remedies to slow growth “go well beyond central bank policies” but the political system is too polarized to move, El-Erian said. Central banks, he said, will not “walk away from a patient” — they’ll continue to provide medicine no matter the side effects.
