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Davos: The Bomb Shelter |
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Predators and parasites recently gathered in Davos to discuss the mounting problems of their prey. All present agreed the problem needed urgent attention.
Historian David Hackett Fisher describes this passing era as the period of Victorian Equilibrium. England’s Victorian Equilibrium, however, was built on banker’s credit, a foundation of sand; and like the story of Cinderella where the carriage turns into a pumpkin at midnight, the banker’s credit has now turned into defaulting debt and the fairy-tale world it built is collapsing.
Lies, lies and more lies
On February 5th, a Bloomberg headline reported: US Economy, Unemployment Unexpected Falls To 9.7%. Bloomberg’s headline wasattempting to convey a more positive outlook for those considering additional borrowings to help restart the banker’s stalled engine of credit and debt (their credit and yourdebt); but the following chart tells the real story about US unemployment, a far different version than the optimistic story being spun by Bloomberg:
Note: If you still listen to, read or watch mainstream media for your news, you could believe any or all of the following: (1) the “recession” is over, (2) Iraq had weapons of mass destruction, (3) 9-11 was the work of terrorists and (4) Lee Harvey Oswald killed JFK. If you believe any of the above, you don’t need sleep aids as you are sleeping quite well on your own.
http://www.calculatedriskblog.com/2010/02/employment-report-20k-jobs-lost-97.html
The real US unemployment picture is one reason why the parasites and predators who gather in Davos are so concerned. Their 300 year-old system of credit and debt concocted to drain the productivity of others has succeeded beyond their wildest dreams; but it has come at a cost—their host, society, upon which their profits depend is now collapsing.
Their concern is genuine, similar to that of plantation owners whose slaves are falling prey to disease and death brought on by age and overwork. That such was inevitable did not occur to them so inured were they from living off the labor of others; and, now, while their dilemma is obvious the solution is not.
Were it not for the trillions of dollars of government aid in 2009, the global banking system would have already collapsed and the world would again be deep in the throes of another depression, where credit-driven demand sinks in an ocean of debt and settles on the bottom where it slowly drowns.
But the collapse has not been averted, it has only been delayed. The trillions of dollars spent to postpone the day of reckoning were borrowed and soon the bill will be proffered and payment demanded for having done so.
Despite the apparent resolve of those attending Davos, there is no way out except complete systemic collapse. All beginnings have endings and the end of the three hundred year system of economic slavery by credit and debt has arrived.
THE DAYS OF YORE ARE NO MORE