by Charles Hugh Smith
Of Two Minds
Not only have the billionaire class made money, they have tightened their monopolistic grip on the levers of money supply and distribution, turning a global rigged casino into a global company town.
Editor’s note: This is a guest post by my friend and colleague Zeus Yiamouyiannis, Ph.D., who has contributed essays to Of Two Minds since 2009.
I wrote this predictive observation in the January 28, 2011 Of Two Minds post entitled, Abused Fundamentals and Fake Markets: How They Play Out (later published and updated in 2013 in my book: Transforming Economy: From Corrupted Capitalism to Connected Communities):
So we have a lawless system. What does this mean for citizens and investors? In the near term it means that the fundamentals will not apply. Anything that maintains or augments elite wealth and increases elite options will be supported, and anything that consumes or converts common people’s wealth and labor and restricts their choices will be pursued.