We are at the precipice of another Global crisis - this time sovereign debt and the imminent implosion of the bond markets and subsequent depression to follow. The leverage in the financial system is what has funded the lavish salaries and bonuses of the executives and speculators and Private Equity pirates and Hedge Fund managers. These people have extracted TRILLIONS in wealth from the global system and are leaving in their wake a mess that is going to require:
1) thoughtful responses
2) disciplined statements and reassurances
3) serious people in positions of power and decisions
We have NONE of that in our currently broken government/cult of personality. ZERO.
Hoover is about to be displaced from history as the most vilified and incompetent manager of financial crises in history, and Trumpy bear is going to lap the field before he finishing crashing the car. We are well and truly fucked. These kind of systemic collapses are endemic to unregulated, crony capitalism and oligarchy. There is a blue print for addressing this in our past - but that involved a top marginal tax rate above 90% and a government of people who have actual degrees and experience in their fields and can apply that education and experience into actions...we have a cabinet of clown college drop-outs and a carnival barker-in-chief.
When this all collapses, I just hope we have enough empathetic and intelligent people left to take over and demand better. We also are going to have to face the facts that without a total accounting and conviction of the ENTIRE Trump criminal family root and stem removal of the ill-gotten gains and lengthy prison sentences for them all - from DJTJ to Baron and including the first whore of the United States.
The old system is convulsing on its death bed now. The imminent collapse is underway...
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