“The political calculus is simple: the bottom half of households don’t vote, don’t contribute to political campaigns and don’t have enough income to borrow huge sums of money to enrich the banks. They are thus non-entities in the fiscal-monetary project of maintaining the power structure of the Status Quo. All the Status Quo needs to do is borrow enough money to fund social programs that keep the masses passive and silent. Unfortunately for the Powers That Be, the cost of placating the rapidly increasing marginalized populace is rising much faster than tax revenues.”
http://charleshughsmith.blogspot.com/2013/06/the-fleeting-beauty-of-bubbles-and-bonds.html
(Visited 54 times, 1 visits today)
Related posts:
The Blindness of Modern Economists
America’s Schools Transform Into Authoritarian Instruments of Compliance
Should You Invest in the Marijuana Boom?
The Fascinating Interventionist Mindset
Bill Bonner: Tough luck for investors!
Broken Links: Fed Policy and the Growing Wall Street-Main Street Gap
Never Hand Over Your Gold To The Bank Of England For "Safekeeping"
Yes, We Live in a Communist Country
Prohibition Caused the Greatness of Gatsby
Bourgeois Dignity featuring Deirdre McCloskey
Jeffrey Tucker: Is There A Viable Alternative To College?
War in Washington: Two Shocking Forecasts
Decentralizing Science: Local Biohacking
Jacob Hornberger: Unlimited Government
Yes, Virginia, Social Security Really Is Going Bankrupt.