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Bingo..Yup, i've done countless school reports on this horse shit. It's frustrating too, we really just need public campaigning and financing for future presidential elections, like in Europe. That way every candidate wouldn't need over $50 million to have a shot at presidency. Or my own young generation could simply get the fuck off their asses and learn to vote, and vote the pricks out of office.
And I've read awhile back that researchers found for every dollar that a company spends lobbying congress, that company sees a $220 return on their investment. Which basically renders the act of lobbying, more profitable than the cocaine trade. Crazy shit right? but this problem has been compounded by that semi-recent Supreme Court ruling on the lawsuit brought by Citizens United, that political action committee funded by the fucking billionaire Koch brothers.
With that decided, the court ruled corporations, like private citizens, to have the right to donate essentially as much money as they please. Thus, this unprecedented breach of congressional law opened the floodgates of corporate money to influence and and purchase elections. Undoubtedly, donations come to the aid of these piece of shit rich politican's willing to work in favor of business, even at the detriment of these politicians constituents.
This is going to be a hard lesson for the world to learn. You cannot print your way to prosperity and central planning always fails on a grand scale.
"A ‘91-style meltdown is almost inevitable." So says Alexei Moiseev, chief economist at VTB Capital, the investment-banking arm of Russia’s second-largest lender, discussing the imminent economic catastrophe that is sure to engulf Belarus following the surprise devaluation of the country's currency by over 50%, which we announced on Monday. "Unless Belarus heeds Russia’s call for mass privatization of state assets, it is headed for “hyperinflation, massive un- and under-employment, and a shutdown of production" Moiseev concludes. Ah: "privatization" as Greece is about to learn, the lovely word that describes a fire sale of assets to one's creditors, courtesy of a "globalized" new world order. Ironically, this is precisely the warning that will be lobbed at each country in the developed world, as the global race to devalue currencies, first against each other on a relative basis, and ultimately against hard currencies, or on an absolute basis, as the world realizes that there simply is not enough cash flow to cover the interest payments on a debt load, in both the public and private sectors, that continues to rise at an astronomic rate, even as the world prepares to exit from the latest transitory, centrally-planned bounce in the Great Financial Crisis-cum-Depression that started in earnest in 2007 and has been progressing ever since. Ultimately, Belarus will succumb to hyperinflation, as will each and every other government seeking to devalue its currency (hint: all of them): "Unless Belarus heeds Russia’s call for mass privatization of state assets, it is headed for “hyperinflation, massive un- and under-employment, and a shutdown of production,” VTB’s Moiseev said. The ruble will slide to 10,000 per dollar, he added." Of course, this is the primary side effect of attempting to avoid formal bankruptcy through currency devaluation. And all those who continue to believe deflation is an outcome that will be allowed by the Fed, need to look just to the former Soviet satellite to see what lies in store for everyone currently doing all in their power to devalue their currency.
First look at the Belarus Ruble chart below: this is what always happens to every country that resolutely continues to live outside its means. Always.
One of the side effects of the overarching "price stability" mandate of the Fed, it turns out, is the fact that since its inception, food and pretty much all other commodity prices have, well, gone up non stop.
All of this, of course, is courtesy of the relentless loss of dollar purchasing power, shown below on a log scale. At this rate, the dollar will have negative purchasing power in under 10 years.
