This is not surprising. It highlights yet again the extent to which the #oldmedia is in many respects just a mouthpiece. For the record the video in the attached article from Mediaite has been removed and I can not find it elsewhere at this moment. (I’ll post if it shows up later in the day.)
“FRAUD has never, ever worked…Eventually things go south…When the hell did we forget all that?”
2008. I’ll never forget. EVER.
I won’t go into why this movie speaks to me so much. I will say however that it isn’t because I had billions on the line.
As we said in an earlier post, the guys running the show in Eastern Bloc countries weren’t happy when the Berlin Wall came down. Likewise the apparatchiks of various sorts deeply embedded in and often reliant on the European Union system have had heart attacks in the face of Brexit.
Brexit is not on par with the collapse of communism however. The end of the Cold War was more than surprising, or even mind blowing,
Remember when Senator Baucus, a Democrat, said Obamacare was going to be a “giant train wreck”? Well…
Remember THESE are the guys making many of the economic decisions in China.
It looks like David is tracking right with us on the China question. The economic Jenga game which exists in the Ultimate Crony Capitalist State has begun its crumble. Right now world central banks are hoping, like in 2007-2008 with subprime housing, that China can be walled off. That contagion won’t spread any more than it already has.
Shocking that such a simple system is failing so badly.
Obamacare has been collapsing for a while. Actually pretty much since it started. A bunch of the state co-ops are dead. More are readying themselves for the grave. And now even the crony partners are starting to abandon the scheme. Indeed repeal may not even be necessary. Ironically the Obamacare experiment may long stand as a testament to one of pro-market economist FA Hayek’s key insights, The Pretense of Knowledge.
The Tower of Babel was probably financed with artificially low interest rates too.
Think of debt as a tower. It can be built up and built up, and if juiced by central banks can be built up even more. But eventually the “tower” becomes too heavy and it collapses on itself in chaos and pain.
Rickards is a guy I listen to. This is an interesting talk.