In These New Times

A new paradigm for a post-imperial world

Financial Wealth Evaporating

Posted by seumasach on June 4, 2012

The left in US/UK think these are basically rich societies and that therefore everything can be resolved by redistribution. But our wealth is paper wealth alone and is dissolving with alarming speed. Redistribution is fine but the crux of the matter is reconstruction of the real economy.

See also: No second bailout! Stand and fight!

John Rubino

Dollar Collapse

3rd June, 2012

Live by the sword, die by the sword. The 1% have spent the past couple of decades accumulating an ever-bigger share of the world’s fiat-currency-inflated financial assets. Now, with the air going out of the FIRE (finance, insurance, real estate) economy, the super-rich are discovering that their stocks and bonds, like the paper money on which they’re based, are to a large extent illusory:

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