Friday, July 01, 2016

What Happens At The End Of Bubble Finance?
Political Revolt
".. in .. Wall Street, politics doesn’t matter much. After all, when things get desperate enough, Washington caves and does 'whatever it takes' to get the stock averages moving upward again .. That’s all about to change. The era of Bubble Finance was enabled by a political abdication nearly 50 years ago. But as Donald Trump rightly observed in the wake of Brexit, the voters are about to take back their governments, meaning that the financial elites of the world are in for a rude awakening .. Bubble Finance has also drastically unbalanced the U.S. .. Bubble Finance is a giant engine of reverse Robin Hood redistribution. It embodies a sweeping fiscal intervention in the natural flows of the free market that punishes savers, laborers, self-funded main street entrepreneurs and the retired populations in favor of speculators, the holders of existing financial assets and the dealers in money. Bubble Finance is an affront to democratic governance and true capitalist prosperity. The Trump voters, the Brexit voters, the masses rallying to the populist banners throughout Europe above all else represent a reactivation of the political machinery in a last ditch campaign to stop the financial elites and their regime of Bubble Finance. Yes, this time is different, and this time there will be no reflation of the financial bubble like there was after Black Monday, the S&L bust, the dotcom crash and the great financial crisis."
- David Stockman*
link here to the essay

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