If you think that isn’t going to have tremendous ramifications down the road you’re nuts. Heck, we’ve got plenty of ramifications right now.
Inflation is a stealth tax.
In related news bedding stores have been selling out of mattresses all across Europe.
The headline is actually false. People still do listen to central banks. There still is the feeling that the economic drug dealer still has some cocaine to pump into the system. If investors weren’t listening at all we’d be seeing a much more interesting market.
But investors are listening less. Or perhaps more accurately, investors are listening but are much more dubious. The central bankers have long lost their wizard status, at best they are magicians, and even so people are catching the sleight of hand more and more often.
In the attached article The Economist frets that the trend toward “globalism” (their word) is in jeopardy. And what the magazine or “newspaper” calls globalism is indeed being challenged. The headlong march toward transnational governments embodied in the European experiment is under attack. And for good reason. People feel disenfranchised.
The average person sees a “global order” (again The Economist’s words) which cares little for the “pedestrian” interests of the middle class. The bourgeoisie sees a rising crony class,
Yeah it’s pretty scary.
As they say in Parliament, “Hear, hear.”
This is from 2011 when the wounds of the Crash were still fresh.
Now we’ve been conditioned. Time has passed and the banks want you to forget what happened and the dull economic pain which still dogs the world.*
We at ACC will never forget.
At the end of this video is a very short ad for someone who was running for Congress. We do not endorse candidates ever. We don’t know who this person is.
I do not understand how people can continue to justify pot prohibition these days. Check that, I can understand it if one has links to the DEA, the drug treatment complex, drug dealers, police unions, drug cartel money launderers, or the pharmaceutical industry. All of these groups want cannabis prohibition to continue because illegal pot means money in their pockets. Or perhaps it’s just flat out ignorance. I suppose that still exists.
Cannabis is the most docile of drugs.
Americans are debt addicts. They love to spend. The politicians love to spend. Everyday Americans love to spend. Spend, spend, spend. And we wonder why many things, our society even, feels so cheap.
People live on credit. They finance cars, houses, vacation – cell phones – think about that – PHONES. They don’t save.
And why should they? They get nothing for saving. There’s literally no real return on socking money away in a bank these days.
Central banks are the prime movers of crony capitalism. Them getting into the virtual currency business is a bad thing but probably inevitable.
I was listening to Bloomberg this morning in the car and this kind of number was certainly not on the table for the economists and money managers they had on for the breakfast show. (At least the ones I heard.)
38,000 huh? And these numbers of late have been particularly subject to downward revision over time. This is a significant blow and may put a lot of the economic world back on the heightened state of alert we saw at the beginning of the year as stocks dipped seriously.