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The elites earned so much money and financial assets. The politicians and bureaucrats are now working hard for all that money to have tangible significance.
by das monde on Thu Oct 9th, 2014 at 12:59:34 AM EST
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To build the shaky face value of bubble-inflated assets into solid wealth, consolidation is called for. Ie, the income and assets of the vast majority are depreciated to compensate for the rapidly-increasing wealth of the few.

This is basically the process that has been under way since 2008. The current labile state of international (public and private) finance makes it reasonable to fear a second round any time soon.

NB state-shrinking "reformers" seem to agree that one area in which public spending may usefully increase is in the training and equipment of riot police.

by afew (afew(a in a circle)eurotrib_dot_com) on Thu Oct 9th, 2014 at 01:59:53 AM EST
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