The late Bob Chapman predicted it years ago. So does Paul Craig Roberts. It could “destroy Western civilization,” he believes.
Untenable political and financial decisions put US and European economies on a collision course with disaster. Bailouts and market manipulation delay the inevitable.
A tipping point approaches. Only its timeframe is unknown.
Money power runs world economies. Wall Street and giant European banks run Western societies.
“Financial deregulation converted the financial system (into) a gambling casino….,” says Roberts. Zero interest rates destroy household savings. Media scoundrels suppress ugly truths.
Western governments letting banking crooks scam the system for profits “is a system that is headed for catastrophic failure.”
Bad news keeps getting worse. Public acknowledgement arrives late. Moody’s June 21 downgrade of 15 major banks conceded what’s been known for years.
Giant Western banks are zombies. They’re insolvent. Taxpayer funded bailouts alone keep them operating. Moody’s warned last winter than downgrades were coming. So-called stress tests suppress more than they revealed. Read more.....