What happens when the Yellow Vests meet European Debt Crisis II?
HELP ENLIGHTEN YOUR FELLOWS. BE SURE TO PASS THIS ON. SURVIVAL DEPENDS ON IT.
There is a lot of talk about which economic bubble will burst first and burst the worst (sounds like a gangsta rap song, no?)
The stock market, real estate, luxury goods, corporate debt and government bond bubbles, and other lesser bubbles, all jockey for the titles. It’s the “Everything Bubble” for good reason.
The “good reason” is: the 1% owns everything of high value, so if Western governments make it their policy to inflate those valuations even higher, then the 1% regains everything they lost in 2008. Welcome to Western Liberal Democracy – if you have a seat in the House of Lords I’m sure you’re not suffering too badly.
Because of that “good reason” I listed all of these bubbles are worse now than in 2008. Nothing was learned and nothing was delivered: I am not a doomsayer, but these kinds of facts make me write that Great Recession II (Great Depression II?) is around the corner.
However, not all bubbles are created equal:
The luxury goods bubble, for example. It’s mildly interesting, from a sensational news aspect, that the most expensive bottle of wine is now worth $558,000…but the luxury goods market is a minuscule part of every nation’s “real” economy, excepting France, Italy and Switzerland. Back in 2008 a half-million dollars set the record for largest lot of wine ever – 27 bottles – so these stories only prove the existence of huge asset inflation (bubbles) – 1/27th in the area of wine sales.
The stock market bubble is also mainly a rich-person’s problem – we only hear about it so very often because…the rich own the media in the West, and the coverage thus reflects their interests. Yes, 52% of Americans own stock, because it’s a huge part (stupidly, rapaciously) of the American private pension system, but only 18% own stock directly and can buy and sell at will. We all know that stocks no longer have any correlation to a company’s actual performance and prospects; those really paying attention also know that the Great Recession’s bailout money has been used for stock buybacks, » Lees verder