Thursday, April 19, 2012
The Great Cedit-topia Wars
They say the Generals are always fighting the last war.
Well, right now all the politicians in Washington and the political pundits on the airwaves are spending all their time arguing over economic systems that ceased to exist decades ago: Capitalism and Socialism.
Those tiny brained leaders and opinion makers are exhausting themselves spluttering and pontificating about long-defunct systems.
The whole world is a Credit-topia now. The United States of America - Europe - China: One Big Credit-topia - based on the principal of the Creation Of Credit to fuel Consumption.
In all these countries, as in all Credit-topias, the Central Bank creates the money and the Governments allocate it and indulge in massive deficit spending programs. All industries are subsidized. The entire banking system is subsidized. All major banks and insurance companies are Too Big Too Fail. The financial industry is a subsidized casino.
There's nothing to argue about here. There is no capitalism. There hasn't been for decades. There's nothing to do to "FIX" it. That battle should have been had 50 years ago.
Too late now. Now we better start talking about practical ways to keep this whole 54 Trillion dollars Credit-topian debt structure (in this country alone) - and the 600 Trillion dollar debt derivative structure - from imploding.
Unfortunately right now we're just having nonsense arguments about things that haven't existed for decades.