"This Won't End Pretty"...

Martin Armstrong Warns Civil Unrest Is Rising Everywhere: "This Won't End Pretty"



Tyler Durden's pictureSubmitted by Tyler Durden on 06/28/2014


Submitted by Martin Armstrong of Armstrong Economics,

The greatest problem we have is misinformation. People simply do not comprehend why and how the economic policies of the post-war era are imploding. This whole agenda of socialism has sold a Utopian idea that the State is there for the people yet it is run by lawyers following their own self-interest. The pensions created for those in government drive the cost of government up exponentially with time. The political forces blame the rich and this merely creates a class warfare with no resolution for the future. Even confiscating all the wealth of the so-called rich will not sustain the system. Consequently, we just have to crash and burn and start all over again.

The Guardian reported that some 50,000 people marched in London to protest against austerity. They cried: “Who is really responsible for the mess this country is in? Is it the Polish fruit pickers or the Nigerian nurses? Or is it the bankers who plunged it into economic disaster – or the tax avoiders? It is selective anger.”

The exploitation by the bankers has been really a disaster. They have been their own worst enemy and in the end, they have become the symbol that inspires class warfare if not revolution. They are not the representatives of those who produce jobs. They are merely those who wanted to trade with other people’s money for free. When they win, it is their’s, but any losses are passed to the taxpayers. Bankers should be bankers – not hedge fund managers who keep 100% of the profits using other people’s savings.

Glass-Steagall Signing-Repeal



This cocksucker should of croaked:



From stuffing his Pie-Hole with these:



Dirty no good fucking asshole!

The repeal of Glass Steagall was the final straw that broke the back of the world economy. That was the single worst act that could have ever been done and we are now paying the price in spades. The collapse from 2007 has wiped out even the liquidity of the markets. The second worst act was the creation of the euro when the real goal was the federalization of Europe from the outset. That undermined the entire European banking system and has led to a serious undermining of the entire global economy.

The solutions from politics will always be the same – grab more power. We are in a downward spiral of liberty and how far we go down this path to the future will be determined by the people and if they at least wise up and see this is not class warfare, it is the people against government. This is why I say career politicians are dangerous for they can be bought way too easily as Clinton was to open the flood gates for the bankers.

This is not going to end pretty. The question is when does society wake up? Just how high will this price be that we have to pay? They will blame the rich and the idiots will cheer – get them. What will happen when there is no more wealth to hunt? We end up with a communist state by default – no wealth, just career politicians who blame everyone but themselves.

http://www.zerohedge.com/news/2014-06-28/martin-armstrong-warns-civil-unrest-rising-everywhere-wont-end-pretty

Ummmm..  no.

It took damn near ten years for the repeal of the G/S law to be given credit for the '08 crash?  Seriously?

Compare that to what we knew of the housing market which was predicted from the outset in the seventies when the idea was floated and passed.  You know, the one that actually has its roots in the crash of '08?  That law had a few intrinsic parts yet to be passed and those, if I remember correctly, only were within the decade since Clinton.  Actually, that giant set up leading to a giant economic mistake can be held accountable to one man, Greenspan.  You can see modern era birth of the idea of chasing money markets in his m.o.  Geitner et al should treat him like a god.

So many people post such incredibly stupid shit I cannot believe it.  Blame the bankers.  Does anyone here know the relevance of Black and Sholes?

Ok.  I'm going to simplify this for you:

Bankers follow laws.  Bankers don't write those laws, politicians write those laws.  Bankers follow the laws politicians write because, well, those are the laws.  Bankers may have lobbyists but those people only have significant effect when they can convince politicians what they're attempting is good for the economy.  Or at least they can pass it off that way to the general public.  And truthfully, fairly, sometimes it really is.

Bankers make money by creating it through interest.  They're there to offer a competitive interest rate if you're willing to go into debt to possess a thing you cannot afford.  But they don't really want to end up owning the thing you're greedy for so they write up contracts at affordable rates (within the lessee's "budget") so as to receive interest but not overburden the signatories.

Would the '08 crash have happened without the greed of the general public?  Of course not.  Savvy money managers felt almost no effect.  They weren't greedy.

When I hear or read about how bankers or politicians or one group or another created a way to make themselves blindingly rich, (oh jeez we never mentioned Hank Paulson did we) I watch how people react.  I watch the herds chase down supposedly "new" ways to get rich quick.  Greed.  Because people have forgotten how to live.

Pointing to others for the reasons of one's personal financial discord is low comedy.  The whole western world is looking for an easy way out.  A scapegoat.  Outside of war or natural disaster, nations always collapse from within.  And it doesn't start at the top, it starts where the economic power of any country is; the middle class.

Without the middle class, the rich would have no one to whom to sell its products.
Without the middle class, the poor would not receive alms through taxes and charity (by both the wealthy and the middle class).

When our nation's middle class became greedy and couldn't pay for what it attempted to buy, it lost more than it understands was at stake. Not because of laws.  Not because of bankers who were bound by those same laws.  Our nations are faltering because there is a rousing call to put someone else's effigy (other than our own) on the pike and burn it.


Harv

It's Woody's Fault!



Nice teeth!