“As each layer in the onion of financial fraud is peeled away, we will see that our glorious Globalized Economy was one giant lie, rip off and cluster fuck. In the end, all it was really was a tiny elite who decided to defraud the whole fucking world and then run for the hills. Well, the shit storm is here, the elites have gotten 90% of earths wealth, now they are heading for the hills.
Remember the promise of Bill Clinton? How globalized markets and economies would make us all well off? Guess what? He fucking lied!” comment on ZeroHedge
Apparently, China is headed for a ‘hard landing’. Their corporate debt levels are so high that over 50% cannot even pay the interest, house prices are 50 x average earnings, their stock markets are being propped up by government intervention but are still in decline.
The USA is likely to slip ‘officially’ back into recession, the stock market is in decline, despite zero interest rate policy and QE. Debt levels in both corporate and government are at gigantic levels, only with ZIRP can they be maintained.
The UK’s overall indebtedness is massive. EU / EZ is breaking up under pressures from a refugee crisis and debt.
The Middle East is on fire, as the ‘great powers’ play the ‘great game’ for supremacy over the remaining energy resources left.
Our global environment is in tatters, the air, water and land all chewed up to produce cheap tat we don’t need. Sharing, repairing and living simply, went out of fashion in the 1970’s
We are reaching the limits of growth but I doubt the corporatist fascist consumerist fractional reserve banking system which rules the world will go gently.
I plan to enjoy how ever longer we have in this prosperity bubble, and to try to prepare for what is coming next, although I am under no illusions that it will be easy.
The current system is based on envy, rewards greed and deceitfulness and punishes the thrifty. My only hope is that it is that the next phase of human endeavour is based on something better than consumerism.