Germany And France Report Near Zero GDP Growth
With tens upon tens of trillions of dollars and equivalents being thrown at this mess by political idiots and banksters, and with the status quo embracing a global economic recovery, and with interest rates around the globe at near zero, we should not be seeing countries in Europe bordering on collapse or showing near zero GDP growth. We all know the reality. Without massive backing and bailouts from central banks around the world, globalization and global finance would collapse.
The steroid-induced false growth in the U.S. over the last few quarters is impossible to sustain. We will soon be joining these types of numbers. And if emerging markets collapse, and they will, we will see an outright global mess even greater than we’ve seen so far. More on that in the next post.
Our uninformed political leaders are trying to fit a square peg in a round hole to appease their corporate masters - our economy is primarily a service-based economy and our monetary system does not match up with the needs of a service-based economy. Of course, you’ll probably never read that anywhere else because the entire world has embraced junk economics as Michael Hudson, the economist I cited in the last post, would say. All we hear from most of the mainstream hacks is that we need to return to gold. That doesn’t solve any of our problems and we’ll cover that as well in the next few months.
As we have commented before, a mathematical fact is that a service-based economy is incapable of growing, something that seems to be lost on politicians, economists and financial carnival barkers. Our monetary system requires growth in order to have any type of sustainability. The debt bubble is but a symptom of this mismatch and other issues. It has almost nothing to do with a fractional reserve banking system as many uninformed commenteurs would have us believe.
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