In the following video, Donald Amstad from Aberdeen Standard Investments delivers a sobering assessment on the financial, economic, social and political crisis forming in the West right now. He focuses on the US, but also discusses problems in Japan, Europe, and Canada.
It is interesting to see how mainstream financial analysts are now openly questioning the survival of the current Western financial and political system. We have been discussing the problems inherent in the Keynesian, and nearly fascist Western model, as contrarians, for 10 years now. The attention paid by the investment industry largely regulated by the system, while serving as conduit for the flow of funds into it, is not insignificant. When the rats start running away, the flood is sure to follow.
We would be wise to heed the advice of Mr. Amstad, for surely as an insider, he knows when the cracks in the system will finally weaken the dam enough to break it. But how many will listen? Most are enraptured with the political theater acted out daily on the most spectacle of stages the world has ever seen. Even the financial media is ignoring what has become a series of all too obvious, unsolvable problems in the Western financial system.
Television media see to it that insights such as these do not make the light of day on mainstream broadcasts. You will not see CNBC financial analysts making such claim here as they are flooded with money from the financial industry of which they are supposed to be rational, independent observers of. It was Frédéric Bastiat, a once prominent French free-market economist, who observed:
When plunder has become a way of life for a group of people living together in society, they create for themselves in the course of time a legal system that authorizes it, and a moral code that glorifies it.
Bastiat was describing the culture of acceptance that so often occurs when the thievery of the people’s funds becomes so brazen and uncontrolled that we simply accept it as normal. The West can be compared to Caligula’s decadent, morally-corrupt reign during the Roman Empire where traditional cultural values were turned on their head.
Netflix’s popular series Stranger Things astutely dubs this as the “Upside Down” for a world in which everything we thought we knew about it no longer makes any sense.
It is no coincidence that the Netflix series is set during our previous generation, paying homage to popular 80’s music and culture while exploring the backwards alternative world we currently have found ourselves in. We are now exploring the Upside Down of a bankrupt Western society desperately trying to patch its broken financial and political infrastructure that is so far removed from its libertarian, capitalist roots as to be completely alien to our senses.
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