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.
Either we continually prime the pump, keep interest rates at extraordinarily low levels and do all sorts of other central bank magic, or we fall into depression? This is basically what the Minneapolis Federal Reserve president said recently.
When I was a small child we lived in the United Kingdom for a couple of years just before the Thatcher revolution. In the years afterward, after we were back in the states and I was a bit older I can remember my parents talking about how colossally messed up Britain was economically. The 1970s weren’t great for America, but for our friends across the pond they were far worse.
The tone of the Federal Reserve has shifted a bit. Is it broadcasting a new tightness? Maybe. We’ll find out soon enough.
Just a few weeks ago many leaders in Europe were talking about the end (or at least the beginning of the end) of the Eurozone crisis. It now appears that was wishful thinking at best. Now even mighty Germany is starting to suffer.