Authored by Charles Hugh Smith via OfTwoMinds blog,
There is nothing inevitable about such vast, fast-rising income-wealth inequality; it is the only possible output of our financial and pay-to-play political system.
Authored by Charles Hugh Smith via OfTwoMinds blog,
The answer is not another $1 trillion in student loan debt to pay for another raft of declining-value credentials.
So let's say we want to set up a system to help students choose a career that fits their aptitudes and interests. What would we do? How about:
1. Give them zero (or superficial) aptitude and career-related tests.
Authored by Charles Hugh Smith via OfTwoMinds blog,
When the price of oil rises to the point of pain, just remember the handy-dandy discount mechanism: a much stronger US dollar.
Authored by Charles Hugh Smith via OfTwoMinds blog,
So let's look at currency flows, reserves and debt.
The demise of the U.S. dollar has been a staple of the financial media for decades. The latest buzzword making the rounds is de-dollarization, which describes the move away from USD in global payments.
Authored by Charles Hugh Smith via OfTwoMinds blog,
Democracy (i.e. political influence) and ownership of productive assets are the exclusive domains of the New Aristocracy.
I have often used the words neoliberal, neocolonial and neofeudal to describe our socio-economic-political status quo. Here are my shorthand descriptions of each term: