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ZIRP is never done because it is so destructive. ZIRP allowed the banks to collect $400 billion a year in interest differential between what you pay and, their free money.
ZIRP allowed Obummer to really run up the debt. So, both the banks and the State benefited. BUT, it destroyed the pension funds, et al who depend on interest income. There will be no recovery for them.
"This is the year that mounting hammer blows to the Western alliance system and the edifice of global governance threaten to bring the old order tumbling down."
Trump is swinging the hammer.
"urasia says President Donald Trump should take a large share of the blame for the state the world finds itself in. CREDIT:AP"
"Pax Americana is unravelling. The transatlantic concord underpinning the West since the Fifties is dying. Nato, the G7, the G20, the WTO and the EU are all in varying degrees of crisis."
"transatlantic concord" was a euphemism for endless war to benefit our masters.
"Anti-liberal strongmen are tugging away at the edges in Turkey, Brazil and Hungary. Some in the twilight zones of the democratic world are drifting -towards the Putin-Xi camp."
Anti-liberal, my arse. Anti war and anti cultural destruction.
"The West is shutting out Chinese manufacturers of 5G high-speed equipment. Digital globalism is in retreat."
About that 5G, https://www.youtube.com/watch?v=1Qt5B39LB7c
"Donald Trump is - in Eurasia's view - the central catalyst and accelerant for much of what is going wrong in the world. It starts at home in Washington.
"Damage is being done to the legitimacy of democratic institutions in the world's largest economy," it said."
Legitimacy of mass murderers.
"Europe is in no fit state to step into the leadership vacuum as America turns its back on the liberal alliance system and nexus of shared values."
Our shared values are with the European people, NOT the European leaders.
"Yet the drift of events is clear. The Western liberal order we took for granted at the end of the Cold War is under existential threat."
Just tell the middle class that they are the upper, rich class. Then, you can justify increasing the snot out of their taxes.
"This is one of the issues I have pointed out in discussions in Washington and it has gone back to the Federal Reserve and is one of the reasons why the Fed has been raising rates. They MUST get them back to normal levels in interest rates or debt is really dead. Insurance and pension funds along with some banks have gone into the property markets and emerging market debt to compensate for the low interest rates.
I have been warning that the European and Japanese central banks have DESTROYED their bond markets. There is NO BID and capital has rushed off into other areas."
"The last Documentary film I did was on this very crisis of destroying the bonds markets. The central banks were buying the government debt BECAUSE nobody else would at such low levels! "
So, let all the sovereign bond markets crash. That will stop the welfare-warfare State model.
En Mexico, es dicho, "un trabajo sin oportunidad robar no es un buen trabajo."
"A job without opportunity to steal is not a good job."
The State run oil company in Mexico suffered $3billion in losses from theft of fuel. 80% of it was stolen by employees.
Here is a good article on Macron. He is on a mission to destroy France, https://www.gatestoneinstitute.org/1...e-in-free-fall
Destroyed by corporate raiders.
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