30 December 2019 — theplanningmotivedotcom
A BUBBLE TOO BIG TO FAIL
‘The global economy was an economy of two halves, the halve-nots and the halves- everything. I have pointed out a number of times, that in many major economies, especially the biggest of them all, the USA, the top 10% spend as much as the bottom 80% on personal consumption. The top 10% rely heavily on capital gains, and their spending habits are shaped by the status of the share and bond markets.
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Remove these capital gains enjoyed by a tiny minority in each country and the global economy implodes. The world economy is now addicted to these bubbles, though the fix needed keeps growing. Nothing could be unhealthier. A capitalist economy driven by low interest rates feeding speculation rather than a high rate of profit feeding investment has scrambled the DNA of capitalism.[my emph. WB]
China’s exit in October 1949, from the sphere of US control, was perhaps the heaviest blow to strike American post-World War II global hegemony. China’s successful drive for independence had been anticipated in Washington for many months.
By Caitlin Johnstone 
The New Dark Age 