The archive is catalogued by 'Politics', 'Economics', 'Mockery', 'In other news' and 'On other things' 


"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

American rage - Gideon Rachman has it back to front

In response to an FT article by Gideon Rachman on 8th February 2016, entitled 'Trump, Sanders and American rage'.

“What is already clear, however, is that America’s political class is only beginning to grasp the depth of the anti-establishment mood that is gripping the US”

You've got it back to front Mr. Rachman, as have the elites - that's why you, and they, don't get it.

If you are looking for an explanation of why the backlash is as strong as it is - it's right there in that sentence - the fact that people are sick to the back teeth with self-obsessed, self-serving politicians is not NEWS to anyone but the politicians themselves - the ones who've been too self-obsessed and self-serving to notice.

They're like drunks waking up after a spree in someone else's house. Surprised at the mess around them, they can't remember whom they upset, and don't understand why everyone is not delighted to see them. The folks who own the house are more interested in having breakfast with someone who didn't drink all the booze, eat all the food, throw up on the carpet and fall asleep in the bathroom. Surely this is some mistake? Even if the mess was little bit their fault, what's all the fuss about?  This is all so unfair.

The 'worst' of them are in denial. The 'best' of them promise not to do it again - nobody believes them...go figure.

Here's a newsflash Mr. Rachman - the economy that our elites have built is a giant Ponzi scheme. A system of credit, built on credit, which needs an ever-expanding supply of credit to keep the illusion of prosperity going. It can only ever expand or contract, it can never stand still - in a Ponzi scheme, standing still is contracting. When the bubble is expanding some people get a lot, and some people get a little bit. When it contracts, the opposite goes into effect - relatively speaking, the rich lose a little, but the poor lose a lot. For the past 8 years the elites have done everything they can to reflate the bubble...but it won't expand any more...the game’s up - it's at peak debt - it must pop or it must deflate. But something is now different - during those last 8 years almost ALL of that new money has gone to the rich, the ‘elites’…the people who now want the plebs to line up behind them and elect them again, so they can do all over again. 

People have noticed Mr. Rachman. 

“If America’s immunity to extremism is ending, the whole world will feel the consequences”

True...but that's not the point Mr. Rachman...not’ve got it the wrong way round. It’s not immunity to extremism that is ending, it is tolerance for being ripped off and lied to that is ending. There is a big difference, and until the political elites get that, they'll be scratching their heads, still wondering who made that mess on the carpet, still wondering what all the fuss is about.

Martin Wolf still thinks a referendum is unnecessary

War on cash Vol 7 - Ben McLannahan