April 1, 2010
- A d v e r t i s e m e n t
My friendly deflationist Jas Jain called the other day to remind me we’re still in a Depression and more downside is likely to come. By his count the Great Depression really lasted almost 20-years – from 1929 to 1949. And he makes a valid point since arguably, the Korean War was a ‘transition war’ which allowed the West to more gradually transition from war machine to consumer goods machine. And since this cycle seems to have peaked out in 2000, neither one of us is very optimistic about how it all works out over coming years of the Second Depression…at least for people who are trying to retain purchasing power of their savings.
Which gets us to this first time from “The Pragmatic Capitalist” titled “On the (perceived) Unimportance of Income”.
Around here, income is important, despite what the (presently manic, needing treatment) markets may think. The reason is that Income funds independence. I trust you’ve seen what’s happening in the UK? There, the national budget picture is so bad (under gold-seller Gordo can this really be a surprise?) that there’s talk by the PTB of an an Economic Government of the EU.”
If you were looking for how Banksters and their allies, the PTB are taking over the whole freakin’ world you have only to look at the technique. I don’t care whether you’re talking local city government, county government, State government, or even National government, the plot goes something like this: