They’re in good company. The banking cronies here fear Bitcoin too.
To paraphrase David Stockman – The world’s central banks have not suspended the market mechanism. They can kick the can, they can lie, they can move assets around on balance sheets, they can even call debts assets. But in the end there is no free lunch.
To paraphrase the anchor, – If a nuclear reactor melts down in your neighborhood and the government says “don’t worry about it” get the heck out of there as fast as you can.
I don’t care if you like this president. I can understand why some people do. There are partisan affiliations which are hard to break. There are ethnic ties which are powerful. There is an opposition party which is not much of an alternative. But make no mistake, President Obama has taken this country down a very dangerous path and now is the time to set the country back on the right one, before the next president comes in and makes things even worse.
Soon nothing at all will be private. The government will have access to everything it could possibly want to know about you. (It can gather it fairly easily already.) Powerful new Internet tracking tools and prediction algorithms are being deployed right now.
“Don’t ask for whom the (debt) bell tolls, it tolls for thee.”
By N. Yakovlevitch
Does Detroit filing for bankruptcy indicate that the decades of corruption and can-kicking in America’s municipal governments have finally caught up with us? I don’t think most Americans understand just how serious this is and just how much it matters to their daily lives – even if you live nowhere near Detroit.
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.
It has. But it’s not the endgame. Free market capitalism, with the free movement of prices is what our economy needs. In a sped up world innovators may be able to make end runs around the crony capitalist system. They may overwhelm the state/corporate dynamic. But as we wrote over the weekend, it will take a lot of work.
Juiced data coming out of the Ultimate Crony Capitalist State? We are shocked.