From HERB RUHS
The Compassionate Misanthrope
I was surprised recently by seeing a notice at the top of my monthly statement from the Fort Brag Credit Union that they would not be accepting deposits over $5000 since no one was borrowing. Strange. A business that is discouraging business, but, as Michael Hudson points out in the accompanying article, in our upside-down economic world nothing makes sense. A relentless concentration of wealth accompanied by an overall decrease in wealth seems to be the culprit. History shows that this sort of cycle, which is sometimes referred to as “financialization,” is a routine end for hegemonic powers.
From the point of view of the topmost wealth aggrandizers it is just the beneficence of the system that allows general impoverishment to fuel oligarchy. Being rich means being right, and being richer means being more right. Bless his heart, GWB nailed it when he addressed a select audience as “my constituency, the haves and the have mores.” That really sums it up. The mechanics of the looting can be interesting in its own right and I routinely consult only three sources for enlightenment, Max Wolff, Michael Hudson and Max Keiser (RT Network). More…