Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (14307)	5/23/2004 10:44:37 AM
From: glenn_a	Read Replies (4) \| Respond to of 110194

Hi Russ. You're welcome for the transcription. It's nice to be able to provide some value to this forum where I tend to receive far more than I am able to contribute. It does, however, appear to illuminate a unique aspect of "The Epic American Credit and Bond Bubble" that may not have been previously factored into this thread. A couple times in the interview, Catherine mentioned the word "political economy". This is a Marxist economic analysis term, and I believe a very important term in this situation. I personally believe an understanding of a Marxist economic framework is very valuable here. BTW, I believe a number of Marx's economic tenets and conclusions are very erroneous. I'm a much bigger fan of the Austrian economists. However, where Marx excels is at the junction of politics and economics - both in his understanding of "class", and the competing interests of classes in economic theory, and his understanding that economics is in part about the allocation of economic power in society, and hence is fundamentally wed to the political sphere. Why the perspective of "political economy" is important I believe, is that the epic - shall we say "global" - Credit and Bond Bubble is not simply an economic phenomenon, but as Catherine Austin Fitts has illuminated, it has a huge "political" context. In this context, it is also very related to the War on Terror and 9-11 (though I respect that this is not the forum to discuss these topics). However - and this is where the "deep politics" guys like Peter Dale Scott, Michael Ruppert, Alfred McCoy, Cockburn & St. Clair, and of course Catherine Austin Fitts - come in, it's not just a matter of "politics", but significantly a matter of the illicit economic and political economy (of which the Narco economy is an important part). Again I refer anyone interested to Catherine Austin Fitts articles on the illicit Narco economy: narconews.com ... and of course, inevitably, this "deep political economy" is highly contaminated by organized crime and intelligence agencies. Why this is significant to the Epic Global Credit and Bond Bubble, IMO, is that the busting of this bubble will likely be not simply an economic event, but very substantially a political failing of Kondtratieff proportions. That is to say, at some point, the criminalization of the global financial and economic system becomes so disfunctional (and Doug Noland is one of the best at illuminating this aspect), and so criminal (and Catherine Austin Fitts and many others speak to this aspect), that the system collapses of its own fundamental decrepedness. And because politically, the system was so leveraged in a no-holds-barred fight for survival and dominance, it's collapse is almost guarranteed to be fundamentally spectacular. Anyway, that's my story and I'm sticking to it! LOL! ... unless, of course, someone provides a better plot line. :) Best wishes, Glenn