Monday, June 19, 2017

Fake Capital Goes to Capital Heaven

Mark Hanson: Housing Bubble 2.0 - The End Is Nigh?
I know I sound like a raving Marxist to be saying this, that the Federal Reserve system and all its brethren systems were established specifically to serve the interests of Capital in its age-old battle with Labor. But yeah, that’s exactly what I’m saying. Propping up financial markets? That’s a nice-to-have. Preserving Capital as the apex predator in our social ecosystem? There’s your must-have.
If a bunch of capital has to be wiped out in the process, so be it. If you don't like the current occupant of the White House, it's a feature not a bug.

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