So much of what passes for the “economy” in the USA is simply money being passed around and around=Europe is on the SAME PATH-[from ZH readers]

OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

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So much of what passes for the “economy” in the USA is simply money being passed around and around=Europe is on the SAME PATH-[from ZH readers]

Posted by Richard640 @ 7:21 on August 4, 2020

A couple of points to remember before patting youself on the back:

1) So much of what passes for the “economy” in the USA is simply money being passed around and around and around from speculator to speculator. And while that is counted as economic activity, fundamentally, no “wealth” is created.

Concurrently:

2) the Fed is throwing helicopter-money around, and since that money supply is simply being conjured out of thin air it – again – represents “economic activity” without any “wealth” being created.

So much of what passes to USA economic strength is simply smoke and mirrors being generated by humbugs hiding behind the curtain.

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Europe is on the SAME PATH.

The difference is the “stock of wealth” created in the last 5 decades – probably because European saving rate has always been higher than in the US.

But the erosion is there… the government spending and other welfare-state element have put a brake to it..

Then, Greece has been devastated. Italy, Portugal and Spain are a “devastation in-progress”.
In Germany 30% of the population has been “left behind”.. and you don’t see riots here only because the majority (which is translated into political majority) got the fruits of the globalised economy.
But 1 out 3 Germans lives almost “under water”.

In France it’s not better…

Mass immigration will break down the system definitively. Or probably the pandemic, or something other gray or black swan.

But the problem is NOT the immigration (as economical issue, the problem with the immigration is cultural, and legal, NOT economical) or the pandemic itself.
the problem is that the EROSION (transfer of wealth from the bottow to the top) is destroying diffused wealth… what we call the f*cking middle class man!

OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

So much of what passes for the “economy” in the USA is simply money being passed around and around=Europe is on the SAME PATH-[from ZH readers]

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