“Central banks and institutions like the IMF and the World Bank are overstepping the boundaries of their mandates by using the flow of money to control global markets and dictate economic policy both at the domestic and global level. These public institutions have become so dependent on funding from private banking and the revolving door between the two worlds is so smooth that public and private banks are effectively working toward the same goals.
A crash could prove to be President Trump’s worst legacy. Not only is he— and the Fed he’s helping to create— not paying attention to the alarm bells (ignored by the last iteration of the Fed as well), but he’s ensured that none of his appointees will either.
After campaigning hard against the ills of global finance in the 2016 election campaign and promising a modern era Glass-Steagall Act to separate bank deposits from the more speculative activities on Wall Street, Trump’s policy reversals and appointees leave our economy more exposed than ever. When politicians and regulators are asleep at the wheel, it’s the rest of us who will suffer sooner or later. Because of the collusion that’s gone on and continues to go on among the world’s main central banks, that problem is now an international one.”
Nomi Prins
Trump couldn’t resist picking the low hanging fruit. Taking full credit for the upswing in the economy when he knows better was a politically expedient gamble that it will be worth the gambit in the long run. We’ll see. The fed will have the last say on the direction of the economy. If they pull the plug and it craters it will be fun watching Trump bullshit his way through it. Can he do it? We’ll see but one thing is for certain-it will push the opposing sides in this country to the breaking point. But then I always try to see the positive side in life.
The central banks are riding a tiger and don’t know how to get off. Those in the know are accumulating real assets to position themselves after the collapse. The 1%are using government to enhance their private holdings.
Trump knows the economy is gonna blow and it will happen assuredly on his watch. The mega flip-flop from pre-election warning “We’re in a big fat ugly bubble” to post-election taking credit for this fiat fueled global ponzi scheme lunacy is one I just can’t comprehend. We’re deep into the “hockey stick” economic moonshot where the debt absolutely must increase year over year or will crash to earth in a trillion pieces. Trump must rack up more debt than Obama, who spent more than every president before him combined.
https://www.debt.org/blog/united-states-federal-debt-timeline/
This will not end well for the bottom 90 % of us Americans
Prins analysis will be proven correct within Trump’s first term as POTUS.
I feel Trump’s mission isn’t to fix things, but to pour gasoline on the fire.
The constant fights over trade deficits, tariff rates, and putting people back to work in a manufacturing sector that’s priced itself out of the market has to be obvious to many people.
Ed
You would think it would be obvious wouldn’t You? I agree
Just goes to show how powerful the distractions and propaganda is which also fuels the increased apathy.
“Central banks and institutions like the IMF and the World Bank are overstepping the boundaries of their mandates by using the flow of money to control global markets and dictate economic policy both at the domestic and global level.”
Overstepping their bounds? This was their end goal all along.
The IMF and World Bank have bounds??