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Showing results for tags 'calamity boris'.
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Been a long time since I last posted. However it's time to re-organise the corrupt and bankrupt financial system which has been driven by ever increasing financialization since the end of Bretton Woods when Nixon ended the last link to gold. Perhaps it's time to revisit what Keynes proposed, which was to try and create a more balanced financial system. A system built on ever expanding debt was never going to cope with a crisis like this. We have been told that this is a "booming economy", lets be honest the issues which led up to the 2008 financial crisis where never addressed. The banks too big to fail became too big to bail and the debt has increased. The Fed is already pumping hundreds of billions into the economy, but the reality is the Fed was pumping billions into the financial system since Sept last year. Problems where already bubbling in the system before this virus appeared. What happens now? Who knows as Injin would constantly put it's printy printy, given what the Fed is doing it's certainly printy printy to try and prop up dollar system. Whether this does trigger hyperinflation is an open question as on the opposite spectrum is debt deflation which is looming as well. The other scenario is that everyone just pretends everything is fine and we just carry on. This is certainly the greatest crisis for generations. At least we have calamity Boris in charge. At least Corbyn should be happy as Boris appears busy renationalising everything the Tories privatised.