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The rise of financial parasitism and the emergence of fascism

The rise of financial parasitism and the emergence of fascism In his report “The Trump coup and the rise of fascism: Where is America going?” David North traced out the historical processes that led to the events in Washington on January 6. He explained that while extreme right-wing and fascistic movements had always been present within the American body politic, these malignant political and social forces had been able to be contained so long as the US was a rising economic power. The present situation is fundamentally different. America is no longer a rising power. For the past 50 years it has been in an inexorable historic decline that has seen two existential financial crises in the space of 12 years the 2008 meltdown of the banking system and the potentially even bigger disaster of mid-March 2020, when the initial impact of the COVID-19 pandemic resulted in a freeze-up of all financial markets in the US and globally.

Ernest Werlin: Growing concern that euphoria surrounding Special Purpose Acquisition Companies is ill-founded

Ernest Werlin Chaos theory is the science of surprises. By understanding how our ecosystems and our economic systems are interconnected, we can hope to avoid actions detrimental to our long-term well-being. One example is the butterfly effect. This refers to the impact of a butterfly that has flapped its wings in New Mexico subsequently causing a hurricane in China. Over my lifetime, I have observed how seemingly singular events can have global repercussions. The OPEC oil embargo, the meltdown of hedge fund Long Term Capital Management and the subprime mortgage implosion created worldwide meltdowns. Is there an economic tsunami in the offing? The fantastic run-up in the prices of initial public stock offerings (IPOs), the boom in financings by Special Purpose Acquisition Companies, and the absurdly low level of interest rates offered by high risk CCC bond issuers could have significant downward repercussions.

Darien Library and Barrett Bookstore welcome author James Rickards and Rob Embers in a discussion about the historic economic crisis due to COVID-19 pandemic

Written by Darien Library The New Great Depression with James Rickards and Rob Embers Darien Library and Barrett Bookstore welcome author James Rickards and Rob Embers in a discussion about the historic economic crisis that has emerged as a result of the COVID-19 pandemic. This virtual event will take place on Thursday, February 4 at 7 p.m. Register on Darien Library’s website at darienlibrary.org/event/4803.  In his latest book, The New Great Depression, James Rickards pulls back the curtain to reveal the true risks to our financial system and what savvy investors can do to survive even prosper during a time of unrivaled turbulence. Drawing on historical case studies, monetary theory, and behind-the-scenes access to the halls of power, Rickards will shine a clarifying light on the events taking place so investors understand what’s really happening and what they can do about it.

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