The slow motion bankruptcy of MF global and Greece should prove we’re still on the brink of an economic meltdown that will likely result in a global depression. Why? These events demonstate how the global economy, like the Communist system before it, is run by a small group of central planners (that allocate the world’s collective capital). These planners:
- Make lots of VERY bad decisions. Wall Street and EU planners routinely attempt to sink the entire economic and financial system with excessive leverage and risk. These systemic threats have become so commonplace now, it’s nearly inevitable that one will cause a major collapse.
- Become morally and ethically depraved. They operate on a continuous stream of fraud and lies. Too many instances to count. These planners are unencumbered by ethical or cultural norms. They actually believe these rules are below them. In reality, by doing so, these planners are eviscerating their own decision making (i.e. in terms of an OODA loop, they aren’t orienting themselves to the deep/rich cultural experience these rules represent).
- Completely arrogant and unapologetic. They are never wrong. Nobody could have foreseen it. It’s a one in 10,000 year event.
Of course, this situation will persist until it doesn’t. At that point, we’ll be in for a long rebuilding process.