Democracy (i.e. political influence) and ownership of productive assets are the exclusive domains of the New Aristocracy.
Strip an economy of capital, productive incentives, talent and yes, ethics, and what are we left with? An economy spiraling toward an inevitable collapse.
Yes, this time it's different: all the foundations of a healthy economy are crumbling into quicksand.
Labor's share of the national income is in freefall as a direct result of the optimization of financialization.
The authors' thesis doesn't explain the 47-year downtrend of labor's share of the economy.
In an economy in which wages for 95% of households are stagnant for structural reasons, pushing inflation higher is destabilizing.
The idea that authorities can massage their pumping to keep asset bubbles inflated at a permanently high plateau is currently being tested.
The point is the present system cannot endure.
Big government deficits are only going to grow now says Schiff.
Almost lost in all the dollar estimates of property damage is the human loss, suffering and stress.
What sort of “catalyst” is needed for a Potemkin Village or a Ponzi scheme to disappoint? Only the gradual or sudden discovery of the reality behind it: the recognition that there is no “there” there.
The problem with stagnant wages is our socio-economic system requires ever-higher incomes to function.
You don't need an army to achieve World Domination; all you need is enough cheap credit to buy up everything that generates the highest value and/or income.
Many of those about to be vaporized did not grasp the fragility of the "prosperity" they assumed was both solid and permanent.
The signs are everywhere for those willing to look: something has changed beneath the surface of complacent faith in permanent growth.
Solutions abound, but they require the retirement of obsolete systems that defend entrenched interests and soul-crushing inequalities.
"The only way to systemically lower costs is to make prevention and transparency the top priorities."
"Anyone who thinks our toxic financial system is stable is delusional."
"If we stop counting zombies, we're already in recession."
If you study these charts closely, you can only conclude that the US economy is doomed to secular stagnation and never-ending recession.
If our faith in the future and our resilience is near-zero, then we can't take any chances.
The key to broadly distributing opportunity and capital is to nurture the source of social capital: the community economy.
Those who have pushed the risk down the wealth-power pyramid are confident the Federal Reserve will continue to limit the risks of speculative financialization.
Each new policy destroys another level of prudent fiscal/financial discipline.
A world in which "we do these things because they're easy" has one end-state: collapse.
The fragility of our financial buffers will only be revealed when they fail in the next crisis.
Debt-dependent consumption in a world in which wages stagnate for the bottom 90% and energy costs increase as demand outstrips supply is a system with only one possible end-point: collapse.
Stock market update with Jim Goddard show.
Tour of dying Paradise Valley mall in Phoenix AZ.
The technocrat and capital-owning class is delighted with the economy, and can't understand why everyone isn't prospering.