15 February 2017

The Failure of the European Monetary Union In One Graph

This is why a wave of populism is sweeping the EU bureaucrats aside.

A similar wave of populism is underway in the US.

The reasons for it are obvious: the abuse of the law and of power in the service of a 'fortunate' few in a self-selected class of meritsocrats and their anointed.

As the pigs proclaimed in Animal Farm, 'all animals are equal, but some are more equal than others.'

The credibility trap prevents the establishment and their enablers from discussing the core issues, and often even acknowledging that there is any problem.

Today's Yellen testimony and questioning before Congress was a nice example.

The Congress critters are craven except in a spirited defense of their own big money backers and sinecures, the general public and middle class be damned.