Crash2: Do you know how to stop 14 econo-financial asteroids at once?


If so, please step forward

mesnipLike a great many people in recent weeks, I’ve been asking myself (with a growing sense of urgency) how long the varietal élites around the globe think the material world can keep on turning with nothing happening, nothing being addressed, nothing getting better, and everything becoming more and more counterintuitive. I have many threaders at The Slog who say “Forever”. But nothing is forever: not the Roman Empire, not the Bourbon dynasty, not the Soviet Union, not even the Labour Party. When neoliberalist globalism finally hits the buffers, oh what a whirlwind its enthusiasts and apologists shall reap.

My aim is for this to be one of the most succinct Slogposts ever.

  • Italian bank insolvency
  • Deutsche Bank exposure to uncovered derivatives
  • Japan offering NIRP with the biggest debt to gdp cockup on the planet
  • Beijing direct buying of worthless Shanghai Index stock
  • Inability of desalaried masses to kickstart economic recovery
  • Western bourses overvalued by 30% minimum
  • Durable businesses overdependent on financial services for profit
  • Capitalism functioning on zero capital income
  • Property sales left as dead-flat spinning plates by forex uncertainty
  • State pension Ponzi provision
  • US interest rate hike hype
  • Lack of medical investment in anti-pandemic attack & control
  • The Bond Bubble
  • RBS & Barclays stress test failures

Further reading during the last 14 hours:

Something’s got to give