A Real New Deal & Debt Jubilee Or a Green New Deal & Global Dictatorship?

• A Real New Deal & Debt Jubilee or a Green New Deal & Global Dictatorship?
  by Matthew Ehret, April 21, 2020, https://www.strategic-culture.org/
  As scary as it is for some to admit even at this stage of the game, the current financial system sits precariously on the edge of a meltdown beyond anything ever recorded in human history. Normally, such a systemic meltdown would generate such turbulence and panic that the masses of complacent subjects would be induced to action in defense of their families and nations, however under current circumstances, the coronavirus pandemic has ensured that no such mass movement, or policy fight has taken shape.
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  As I wrote in a February 27th editorial Why the Coming Economic Collapse Will NOT be Caused by Coronavirus, the inevitability of the meltdown has been well known to all leading central bankers and highly placed officials in “a position to know” for a very long time. This fact was known even before the new wave of emergency bailouts were begun in September 2019 starting with $50 billion/night of overnight repo loans. It was known even before the age of bailout was created to postpone the 2008-09 collapse of the system under threat of Martial Law. It was known before Glass-Steagall was repealed in 1999 and over-the-counter derivatives were deregulated in 2001. Let’s just say it’s been a part of a very ugly plan for a very long time.
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  But make no mistake, you didn’t have to be a “highly placed” banker or technocratic social engineer to know this collapse was going to happen. No crystal ball was ever needed.
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  All a thinking person had to do was assess the observable underpinnings of the post-1971 financial order and look with unbiased eyes upon the consistent rate of collapse of the PHYSICAL economic platform that supports life while taking note of the paradoxical hyperbolic increase of monetary assets, and speculative claims in the system every year since the age of “deregulation” was ushered in (and the post WWII paradigm of industrial growth economics was thrown in the trash). Outsourcing of vital manufacturing, decay of infrastructure maintenance and improvement, privatization of public goods, and loss of machine tool powers simply resulted in the transfer of wealth into the hands of a small elite, and the stripping of nation states from the economic sovereignty they once enjoyed.
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  Where monetary growth used to be tied to the measurable growth of physical economic variables mentioned above, the post-1971 world order demanded that money could only grow according to debts that were ever more disassociated from reality. Instead of justifying the growth of infrastructure, and improvements in the productive powers of labor, debts became tied to mere speculative activities setting in place a time bomb in the form of a new bubble economy. Whether artificially induced or left to their own devices, bubbles by their very nature ALWAYS pop.
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  Since the chaos of the collapse of the trans-Atlantic bubbles has not yet occurred, we still have a choice.
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