Friday, November 28, 2014

Why Living in a Post-Bubble World Is No Fun - Washington's Blog

What do we do when the bubble economy cannot be reflated?

It is generally conceded that we are living in an era of Peak Everything: peak central bank omnipotence, peak powerless of the non-elites, peak wealth inequality, peak media-induced delusion, peak market-rigging, peak bogus official statistics, peak propaganda, peak bread and circuses, peak deception, peak distraction, peak sociopathology, peak central statism, peak debt, peak leverage, peak derealization–need I go on?

Peaks generate bubbles. Bubbles reach extremes and then they pop. There is nothing mysterious about this causal chain: peaks generate extremes that manifest as bubbles, which eventually implode as extremes revert to the mean and mass delusions are shattered by the unwelcome reality that extremes are not sustainable.

The status quo solution to the devastation of a popped bubble is to inflate another even bigger bubble. If debt reached extremes that imploded, the solution is to expand debt far beyond the levels that caused the implosion.

If fudging the numbers triggered a loss of confidence, the solution is to fudge the numbers even more, so they no longer reflect reality at all.

If gaming the system crashed the system, the solution is to game the system even harder.

If the masses protest their powerlessness, the solution is to push them further from the centers of power.

And so on.

Complete story at - Why Living in a Post-Bubble World Is No Fun Washington's Blog

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If you're seeking more information about how the world really works, and not how the media would want you to believe it works, these books are a good start. These are all highly recommended.

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1. The Shock Doctrine - Naomi Klein
2. Confessions of an Economic Hit Man - John Perkins
3. Manufacturing Consent - Edward Herman, Noam Chomsky
4. Gladio - NATO's Dagger at the Heart of Europe - Richard Cottrell
5. Profit Over People - Noam Chomsky
6. Soviet Fates and Lost Alternatives - Stephen Cohen
7. The Divide - American Injustice in the Age of the Wealth Gap - Matt Taibbi

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