I have to say that I was saddened by Pope Francis’s recent assertion that “rampant capitalism” is a source of many of the world’s ills.
Times are hard but they will likely get harder. We’ve covered over gaping cracks in the world economy with fiat money paper mache, but it won’t last. In fact the paper mache is disintegrating right in front of us. What Poland did to its pensioners earlier this year is an example of the underlying instability in the world economic system.
So long as the dollar retains its “reserve” status we’ll continue to run the world economic show.
It could be worse young people of Espana. In Greece the youth unemployment rate is 62.9%. This is a dangerous state of affairs as the young and unemployed are the most likely to embrace violence.
Right now, secret negotiations which will profoundly affect what the 21st century global economy will look like are happening. You are not invited to weigh in. The power players of the world are busy negotiating the game for their benefit, and they are calling it “free trade.” It is not.
From Daniel Hannon, a guy who often gives great perspective on both the EU and the US from his perch in the UK.
Sadly it appears that these folks, filled with legitimate indignation, do not understand that central bank interest rate rigging is anything BUT capitalism. A banker politburo issuing edicts from on high pretty much is the opposite of free enterprise. The protester’s problem should be with the state and the bankers colluding, but as we see also in this country many people who have problems with bankers continue to have a love affair with the state. Witness the red flags on display above. If only the government could be run by the people!
Since the dollar continues to be the world reserve currency, and since the mega banks float like clouds over the entire planet paying little attention to borders, we shouldn’t be surprised. But that the Fed has essentially given away $1 trillion to non-American banks is pretty amazing . (Not that American banks are any better than the foreign ones of course.)
Vive le France? Well, one of the reasons there is less “vive” in France these days is because of asinine policies such as the one imposed by France’s current Socialist government which is highlighted below.
Nigel Farage’s United kingdom Independent Party, or UKIP, has made big strides in recent local elections.
Much of the party’s success has come from the online presence of Mr. Farage and his unrelenting challenge to a European Union which is increasingly seen as not in the best interest of Britain. (Not to mention the Continent.)
To see what UK voters see in Mr. Farage and his party I’ve attached a video I posted last year. It’s just so good.