The Era of Central Planning is Crumbling… and the Elite Are Terrified
by Phoenix Capital
ZeroHedge.com
Sep 10, 2016
The biggest issue in financial political power structure today is the End of Centralization.
In the post 2008 era, the Globalists made a major push to hold the system together. The multi-billionaire class, particularly those who made fortunes from crony capitalism and bubble economics joined forces with the Keynesian media shills to convince the world that the only way we would survive would be if trillions of Dollars were given to those who were deemed “systemically important.”
Warren Buffett was a prime example of this. Buffett amassed a fortune by being a raging capitalist who prided himself on never losing money on an investment. But by the time 2008 rolled around, he faced the very real prospect of seeing his fortune halved.
Somehow he managed to convince the public that he was still a great guy while pushing for bailouts in the very firms in which he had taken large stakes: Goldman, Wells Fargo, etc.
Buffett was not the only one. He’s just the best known.
Let’s be blunt here: the 2008 bailouts and money pumps completely betrayed capitalism. The outcome was precisely what you’d expect from Central Planning:
1) Economic stagnation.
2) The creation of low quality jobs that offer little upward mobility.
3) Concentration of wealth.
Today, eight years later, the elites are terrified that the game is ending.
You can see this in many ways. The architects of this mess (Ben Bernanke, Alan Greenspan, Larry Summers and others) have resurfaced with revisionist narratives in which they are not responsible.
Similarly, those currently at the helm of the Central Banks have begun abdicating their responsibility for what’s coming.
This is most evident in Central bank Presidents like Draghi and Yellen dropping all pretenses of being able to hit their goals/ targets and instead passing the blame onto political bodies such as Congress.
The Rest…HERE
