Tuesday, October 20, 2009

Global Finance - The Future Of Doom

I would encourage everyone to listen to Lori Wallach on just how corrupt global finance truly is. And how much more corrupt the U.S. politicians really want it to become regardless of what comes out of their lips. This is a very, very, very serious issue. And it is just not the U.S. In fact, Lori remarks how the European banks and political leaders are leading the charge in many respects. Another repudiation of the generally-held belief that this crisis is U.S.-centric. And re-regulation of finance in the U.S. is utter bullshit. The crooks are writing our legislation and the future regulation being considered may be even more unstable. It has become apparent that on most issues President Obama is simply President Bush with a better delivery. If you like neoliberalism as an economic and financial policy, then you have to be one happy camper. All of this is going to take care of itself in a very unpleasant manner.

People really need to think well beyond the obvious debt dilemma of the U.S. to understand how completely shambled the world economy is. The signs of the future are everywhere. From our incessant predictions of a collapse of China, to our predictions of a banking crisis in Russia, to our concerns of meltdowns in Europe, to concerns over the future of the European Union, to the increase in Special Drawing Rights at the IMF, to our writings of a coming collapse in emerging markets on and on and on. Our countless rantings over the years are very unique in their scope and granularity. That's because instead of learning mindless theory out of a Harvard textbook, we were focused on a science-based approach of reality.

These G20 meetings referenced by Lori are nothing more than tea parties for economic idiots. Since when are politicians able to discern what is best for six billion people? Since they have become our overlords. We will eventually experience another global meltdown of some sorts. An unwinding of tremendous global complexity is in the cards. Not just financial complexity either. Remember our posts on possible global supply chain shocks.

As we have stated, we are going back to a self-funded world. Globalization is dead. Global finance is dead. The current economic model is dead.
posted by TimingLogic at 9:27 AM