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Tuesday, July 5, 2016

The "Bubble Recovery" Set To Burst

Why Our ‘Recovery’ Is Just Another Bubble 

For the past seven years since the most acute phase of the Global Financial Crisis, economists, financial journalists, and business leaders have bought into the idea that we are in a sustainable global economic recovery. While most will admit that the recovery is a bumpy and uneven one, few actually question the underlying recovery premise itself. Stock, bond, and property prices have soared and exceeded their 2007 highs, tech startups are proliferating everywhere, and the unemployment rate has fallen significantly. People are becoming optimistic again – not in an unbridled, manic way, but in a cautiously optimistic way.
But what if things are not what they really appear to be when you look under the surface? What if our recovery is just smoke and mirrors or another temporary growth bubble? Unfortunately, my extensive research has proven these assertions to be true: our recovery is actually a “Bubblecovery” or bubble-driven economic recovery that will end disastrously. This bubble is driven by a global surge of over $60 trillion worth of brand new debt as governments, consumers, and corporations borrow from the future to stay afloat (and throw a wild growth party in some countries and sectors) in the meantime.
Ahead of the Charts

Wrecked Jet Stream Now Runs From Pole-to-Pole

The circle in the middle shows where the upper zonal winds are now starting to flow from Siberian across the Equator to West Antarctica. It’s weather weirding due to climate change. Something that would absolutely not happen in a normal world, and if it continues, threatens seasonal integrity.

This worldwide turn toward fear of the Other is globalization’s shadow self.

The “Leave” vote was a rejection of globalization, at least as it’s currently structured. This was a revolt of working class Britons who have seen their postwar prosperity erode around them and their social contract eviscerated by the corporate and financial oligarchy. But it was also the sign of a darker and more sinister worldwide phenomenon: the resurgence of global nativism and xenophobia.

Turkey’s Scholars Call Erdogan’s Presidency Fraud

Though Erdogan grew up in Ataturk’s imposed secular Turkey, he seems all along to have been simply a closeted fundamentalist Sunni, who rose in politics because the Turkish public favored that, more than they favored Ataturk’s imposed separation of church-and-state.