Common threads are OCDs, fictional money conjured out of thin air, destruction of the principle of “too big to fail”, bailout of the economically unviable and criminal
The bulls and the bears both joined in a chorus of warning.
The HSBC, Lloyds and other bank restrictions on bnk withdrawals “to protect customers”. Take the eyes off the topic in itself for a moment and look at how this story has gone viral with all sorts of outlets running it = a great deal of unease.
Predictions of a crash sometime around February/March 2014, for example:
History pre-crashes, including the ’29:
And of course, the purpose of crashes:
The HSBC news and Volcker/Walker warnings can only serve, just as this minor post adds to and all the other blogs out there also do, to erosion of confidence. The more Cameron has said everything’s fine in real terms, which it’s his job to say, by the way, then the less our confidence as the PTB have engineered the deep distrust of the political class pretty well starting over here with our expenses scandal.
A study of Churchill and Roosevelt shows that it was largely confidence, i.e. a lie, which got things back on track, despite all the indicators. Happy days are here again. The difference this time round is that no one believes politicians.
Our confidence to spend has everything to do with economic recovery. Lost trust is the big one:
Lost liberties, failed and deep-captured agencies [e.g. Fed], an agenda, changed policies, disintegration beyond actual crashes, walking off farms, manufacturing disappearing:
In the middle of the Great Depression, govt. doubled income tax.