Posts Tagged ‘incomes’

“It’s EZ credit that is the linchpin in today’s fake-money system.

The Deep State’s stocks, bonds, and real estate values… not to mention its careers, incomes, and reputations… depend on it.

And it is made possible by the China trade… by Chinese workers who put in long hours in miserable conditions in order to stock the shelves of Walmart with cheap goods… by Chinese manufacturers who undersell their competitors to keep consumer price inflation in the U.S. at low levels… and by Bank of China, which holds some $1.25 trillion worth of U.S. bonds… thus propping up the whole wobbly capital structure….

In politics and economics, BS is all there is. The calculations are almost always fake; the statistics are quackery; the theories are devilish nonsense. And bad ideas never entirely disappear, they just re-emerge after a few years… often dressed in new duds.”

-Bill Bonner

“Who did the most damage: Greenspan, Bernanke, or Yellen?…  When Mr. Greenspan took over at the Fed in August 1987, the government owed about $3 trillion… or about 40% of GDP.  Today, the national debt approaches $21 trillion – more than 100% of GDP.  Household and corporate debt levels have shown similar expansions. Overall, for the last 30 years, total (private and public) debt has grown about twice as fast as the economy that supports it….  And now, hundreds of millions of people depend on the EZ money economy created by Greenspan, Bernanke, and Yellen. Their jobs, their incomes, their investments, their retirements – all depend on keeping the fantasy alive.” -Bill Bonner