In an auto-mechanic analogy, the Powers That be are assuring us those grinding noises under the hood and the black smoke chugging out of the tailpipe are no big deal and can be fixed with a minor tuneup. They’re wrong; we need a total overhaul to avoid a total system breakdown.
The grinding noises and black smoke are telling us the engine of our economy is on its last legs. The Powers That Be (Federal Reserve, government at all levels, mainstream corporate media, etc.) have been masking the need for an overhaul with trickery for the past seven years, the financial equivalent of using heavy oil and spray-painting the battery to make it look new.
With the tranny and top end about to blow, the Status Quo keeps claiming everything’s running great and the new set of sparkplugs and minor valve adjustment (i.e. zero-interest rate policy and more banking regulations) have restored the economy to top performance. (more…)