We’ve put humpty back together again. See! He looks great, sitting on the wall…you can’t see the tape and glue underneath his flashy new clothes.
All we had to do was borrow a few trillion and things are as they were. Record bonuses at investment banks *prove* that things are back to normal, right? Or are banks simply a conduit to pass through taxpayer money? Regardless, for one reason or another the banks are back in the risk business in a big way. This time they’re betting on black using taxpayer money.
A recent report commissioned by the Roosevelt Institute by a group of economists and academics, including Rob Johnson and Elizabeth Warren says: “Risk-taking at banks will soon be larger than ever.”
Without more stringent reforms, “another crisis – a bigger crisis that weakens both our financial sector and our larger economy – is more than predictable, it is inevitable,” Johnson says in the report.
Honest to God, the next crisis – if it occurs before we sort out the current deficits – will result in a global depression. Governments are tapped out and are already facing budget crises. The only thing that could possibly save us is that governments are the second-least worst choice if things collapse. Gold is probably the best choice.
