A Look at the Future, the Regular People say no to Central Bankers
Some try to portray the Greek situation as about people who don’t pay their debts. That is part of the story. However, the Greek “No Vote” may be more than that. It may be the leading edge of a rejection of the artificiality of global economies and the Big People involved making those economic decisions, people like Greenspan, Bernanke, Yellen, Draghi, and LaGarde.
Politics will no doubt become more a part of this protest. At the moment Germany’s Merkel is in the middle, but the coming U.S. elections will pull forward people who are tired of the inequality that Central Bankers have fostered. In my opinion the Tea Party on the conservative side will move up, and on the progressive side, the Warren and Sander’s Wings.
What is sad is that the people in the U.S. who should be most concerned about this will be the ones who will shoulder the burden the most. This is because their retirement funds are held in mutual and pension funds manged by the “dumb money professionals’ while the big smart money people will be bailing out early. “The smart money managers” will move when their model indicators change. It is interesting to me that both the dumb money and smart money groups are looking at the situation that is building and so far both groups have have done nothing.