by The political moment when the “losers” connect their discontent and decline with central bankers is approaching. The Ruling Elites’ Chattering Classes still haven’t absorbed the key lesson of the 2016 U.S. presidential election: the percentage of the populace that’s becoming wealthier and more financially secure in the bloated, corrupt, self-serving Imperial status quo is declining and the percentage of the populace that’s increasingly insecure and financially precarious is increasing, and candidates that mouth the usual platitudes in support of the bloated, corrupt, self-serving Imperial status quo lose to those who speak of the failing status quo as a travesty of a mockery of a sham, i.e. a “populist” speaking
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| The core reality that powers populism Left and Right is the economy no longer works as advertised for the bottom 80%, and by many measures, the bottom 95%. The “conservative” camp generally holds that the “problem” is markets have been throttled by heavy-handed government regulations while “progressives” see private-sector wealth / power as as the problem and “taxing the rich” and redistributing the wealth as the solution.
What neither status quo camp dares mention is the domination of central bankers and the “winners” of their dominance, financiers, global corporations and state-enforced monopolies / cartels. (The losers are of course the rest of us: tax donkeys, debt-serfs, wage slaves, the restive crowd demanding more bread and circuses, etc.) The political moment when the “losers” connect their discontent and decline with central bankers is approaching. Perhaps the wires will arc in 2020, or maybe it will be 2025; but whatever the timing turns out to be, the all-powerful Cargo Cult of the central bankers will be swept away in a global political convulsion unlike any in memory. If you harbor any doubts about the demise of the Central Bank Cargo Cult, reflect a bit longer on the meaning of this chart: |
The Fruit of Financialization: Soaring Income Inequality - Click to enlarge |
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