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Dismissively Ignoring Hard Times

By       Message Stephen Lendman       (Page 3 of 5 pages) Become a premium member to see this article and all articles as one long page.     Permalink

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-- "civil unrest will intensify;" but

-- "(g)iven the trends in play and the people in power, economic collapse at some level is inevitable."

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At the same time, corrupted politicians and central bankers will "wring every last dollar, pound or euro from the people through taxes while confiscating public assets (through privatizations) to cover bad bets made by banks and financiers."

It's happening in America as both parties plan more social cuts on top of draconian ones in place, indifferent to human misery and depravation or the hypocrisy of open budget war-making, freeing the world for capital.

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Across Europe, it's much the same, corporate and political opportunists capitalizing on a crisis to pillage every asset possible, wreck social economies, destroy middle class societies, neoliberalize workers to despair, shifting maximum wealth upward to elites on the pretext of financial reform that's code language for grand theft.

Calling it "the financial road to serfdom," economist Michael Hudson says it "seek(s) to turn public infrastructure into rent-extracting tollbooths to extract economic rent (a free lunch), while replacing labor unions with non-union labor" to work it more and pay it less.

It's "an asset grab," he says. To achieve it, the financial sector (bandits by another name) needs a "political grab to replace democracy with financial technocrats," cleverly stealing wealth to increase "efficiency" by looting "debt-leveraging (economies) to the point where the entire surplus is paid" to them as interest at the expense of civil societies they plan to destroy, replacing them with unfit to live in wastelands governed by repressive bureaucracies imposing draconian harshness.

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"Learn from history," says Celente. Don't "let your mind take a summer vacation. Conditions are rapidly deteriorating and it is imperative to remain on high alert. Another violent financial episode is looming." Anything can trigger it, perhaps when least expected, including:

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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