Most of us greeted the New Year with a degree of optimism, I think - maybe rightly, maybe wrongly. But today Richard Horswill draws us a less positive picture, which has driven him to poetry…..
An Orwellian Economic Nightmare
Welcome to 2016, or maybe 1984? What does that mean? Cries of "that could never happen.” Orwell's future may be not so distant. "Never" they say again. Open your minds! Economic claptrap breeds control "Of course it will work, we are academics, we are clever,” say the bureaucrats.
How did it start, the new normal? The economic war on people. A tsunami of debt. A crash, a bailout and an unsuspecting world. Our leaders should stand beside us, not cheat us ! We trusted them!
Insidious but clever, financial repression. No one noticed at first. How could they? "I'm sure they know what they're doing.” The debtors were given a lifeline, forgiveness for their greed. The public weren't to know. Bankers chastised: a slap on the wrist. Bad banker. But where would we be without our bankers? Bankrupt of course, the leaders tell us. Claptrap!
The central banker has a magic money tree. If you shake it hard enough, billions of dollar bills will fall like autumn leaves. "How clever, how does that work?” the public ask. "It's magic," the central banker answers. “They know what they're doing.” Lucky bankers! The champagne flowed again, the bonus pool refilled.
An act of war in Cyprus. Perhaps a test case ? A theft in the night of money. Or a blueprint for the future? Only to be used in a Black Swan emergency, of course. The bail-in born.
Now something else is planned. Poor, trusting public. The era of negative rates. Already in a country near you. "How does that work?” we cry. Well, my precious, it works like this. Your money’s in the bank; we steal some every year. Simple. Oh, and by the way, your money’s stuck, because we don’t like cash. Cashless society and negative rates, hand in glove. Clever bureaucrats, they know how to pull a stunt.
People, people, wake up. The greatest heist of all time. "Did you notice?” "Notice what?” was the response. No one did until it was too late. The economic debt-based growth model. Claptrap. The economic nightmare to follow. Command and control. Orwell's 1984. The year 2016. Happy New Year.
This article was written by Richard Horswill. All views and opinions expressed are strictly his own.