Mish either finally "lost it" or finally fully "got it"

Its no secret to my family and friends that I follow Mike Shedlock (and others) on a daily basis.  I'm not shy to say where the various economic pundits have been right and wrong over the past 6 years that I really began studying and following global economic events.  Out of all of them, Shedlock or "Mish" as he calls himself, has consistently been correct most of the time and when he turned out to be wrong about something on rare occasion, he quickly admitted it and changed direction.

Mish's great strength, besides having the logical mind of an ex-software developer where "if-then-else" rules and everything else is noise, is his focus on the data.  He watches the important data and tries to spot trends.  He's pretty good about suggesting that a trend might form based on the data and then only going "all in" with his analysis once he has enough data to fully back it no matter who is asking him the hard questions about his analysis.  Its an enviable skill and I have learned a lot from watching him practice it over the years.

At the same time, like any approach, waiting to have all of the data can result in long delays at reaching the right conclusion.  In other words, once the conclusion is reached it will have a higher probability of being accurate because it is supported by so much mature data but that comes at the potential cost of being late.  Mish has to take the path he took because he is a widely read blogger and you can't get there easily if you write controversial things.  The herd simply takes too long to suspend disbelief about things that are otherwise obvious.  For example, 95% of the people still seem to think that WTC building 7 collapsed into its own footprint at the speed of gravity on 9-11 as a result of some small office material fires.  WTC 7 was never hit by any airplane like the twin towers were.  People are so afraid of what others will think about them that they avoid thinking (much less talking) about such controversial things.  It's herding 101. 

Likewise, Mish must be careful about sounding conspiratorial even in the face of an obvious global economic conspiracy.  I have not been shy about writing this.  I have also been very clear on perhaps 100 different occasions that the engine of this massive global fraud is fiat currency and fractional reserve banking.  Without that basic supporting item it would not matter that people would still want to be corrupt and get something for nothing because they simply would not have the means to accomplish on the current scale.  The current global Debt Ponzi is the result where fraud upon fraud is papered over and the status quo maintained.  Who is doing it?  The military industrial complex warned about by Eisenhower.  I've been writing about this since at least 2008 but here is a post from 2011 that states my position clearly.   I've also defended real capitalism many times and pointed out that we don't have real capitalism but rather capitalism theater.  Finally, I have quoted Lenin many times: in that "fascism is  (crony) capitalism in decay".  In other words, history shows that when the debt Ponzi begins to collapse, governments use force or threat of force to avoid being held accountable or of incurring regime change.

All of which leads me to Mish's finally putting it all together in one post where he defends capitalism while explaining why the recovery has helped the rich at the expense of the middle class.  He writes,"I blame the Fed, fractional reserve lending, political corruption, unions, and the Military Industrial Complex that president Eisenhower warned us about in a Speech in 1961.

In short, the problems we face are not the result of free market capitalism, but rather the results of Fed sponsored corporate and military fascism."

(Scroll to the bottom to see the above quote):
http://globaleconomicanalysis.blogspot.com/2013/04/who-won-93-or-7-why.html

Mish has finally put it all together in one succinct summary of the state of affairs.  While I understood the nature of this scam years ago, Mish has finally gathered enough data to plainly state a strong opinion about it.  Note that he stopped short of using the word "conspiracy" but that is exactly what he is describing when he blames groups like the "Military Industrial Complex" and "The Fed".   Kudos to Mish for finally detailing his views on this. Many in his place would simply clam up on the conclusion in fear of losing readership.  Then again, perhaps Mish has his finger on the pulse of the herd and senses that it is ready to listen to straight talk.  After all, you can't fool all of the people all of the time and in the end game of any scam you can't fool anyone ever.  You have to begin a new scam for that.