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Automatic thumbs down – no verbal date at the beginning. Republishing of ancient posts.
NO ism works(Capitalism, socialism) when crooks run the system for their OWN benefit .
Alex Jones has become a caricature. I would add Richard D Wolff, Chris Hedges, Cornel West, Michael Hudson, David Harvey etc
Well, I think if you add up ALL outstanding debt on the population of Boston you will find it is a good bit more than $280b.
Gold has been talked down for forty years by all the Certified Smartguys…. a pet rock… because it doesn't do anything. It just sits there. It is not, therefore, an investment. On the other hand we have sovereign bonds which are certainly NOT pet rocks. They do something. No one knows what it is but from Germany to the US, the sovereign bond is the most popular security, right? Yet it doesn't YIELD anything. With negative rates it actually consumes your capital. At least gold doesn't do that. It just sits there. The only way to make a buck on it is if the price goes up in term of bucks. Hmmm.
I also think that massive DEBT is the biggest problem the economy has. People cannot afford to take on more debt.
Demographics (baby boomers peak spending was from 2003 till 2007 and this is over now. The baby boomers are now saving for retirement) and Wages have not kept up with inflation over the last 50 years………….so people have no money to spend or take on more debt.
Are we at the end of the line. No new tricks up their sleeves?