A few Thanksgiving reflections by Biderman.
As we get ready for Thanksgiving, I have a great deal to be thankful for in my personal life. But as to the world, particularly the global economy, there does not appear to be much to look forward to as we approach year end.
Before I talk about our fiscal cliff, the rest of the world seems like bad news. It looks to me as if Iran is hell bent upon creating a war between Hamas and Israel that takes attention away from Persian nuclear weapon building. Greece and Spain are going no where fast. And Japan is now committed to destroying what is left of its economy by undertaking even more massive money printing.
Guest post via Gold Silver Worlds.
It is highly unlikely the Mayan predictions of the end of the world referred to the bankers’ world of credit and debt. Nonetheless, with only one month remaining until December 21, 2012—the end date of the Mayan 5,125 year Mesoamerican calendar—the concomitant end of the bankers’ 300 year ponzi-scheme of credit and debt should not be dismissed as mere coincidence.
The world has entered a paradigm shift of immense proportions; and the collapse of the bankers’ economic world is a part of that shift. The bankers’ credit fueled a 300-year global expansion which transformed the world. The bankers’ credit, however, has now become debt which increasingly cannot be repaid.
Economics is not rocket science although the arcane algorithms used by Wall Street banks to predict capital markets imply that intended conclusion. Modern economics, i.e. capitalism, is merely the current iteration of the supply and demand dynamic distorted by 300 years of credit and debt—a distortion that’s now about to end.