The marginal players in the world are getting hurt the first and will end up getting hurt the worst. Today's proof point comes in the form of a collapsing debt Ponzi known as the Brazilian pension system. The whole system is designed to allow the upper classes to steal everything from the middle and lower classes. I bet they laugh each day when they get paid as millions go hungry because of the wealth transfer.
Well be careful how loud you laugh, Marcão e Patricia because it won't be long before the whole thing just falls into a smoking heap at your feet. Worse, when it all goes down the poor are going to be pissed at you about it and when they finally lose their fear of the police there will be chaos, violence and death. I mean, more than usual for Brazil. A lot more.
But it doesn't end there. What do you think is going to happen if the fed raises the US interest rates? The dollar will become the world's only safe haven, other world currencies will collapse, there will be chaos and power struggles and war that will lead to swarms of refugees. It could make the Syrian exodus look like a joke by comparison.
Janet Yellen is no longer the the head of the US banking system. Her moves now dictate the fate of the world, starting with those of the smaller players whose massively inflating currencies will go the route of Zimbabwe if she raises US rates.
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2 comments:
Marcão and Patricinha, if they work for the federal government, get to enjoy retiring at 54 with millionaire pensions especially if having worked for the judiciary system in whatever position, usually several and concurrent, thus the stratospheric amounts. As for the rest of the populace, they get to retire only at 65 with the minimum wage.
PS: though gun ownership is forbidden (even after 20 years of a military authoritarian regimes), it's open season on off duty cops.
Once a population is disarmed it is defenseless. Under these conditions the state always keeps stacking the deck in its favor year after bloody year. At some point it gets so bad that the people decide to fight even if it is with fingernail clippers and butter knives. In other words the people turn into "terrorists" because they have nothing to lose by doing so. One man's terrorist is another's freedom fighter. Freedom isn't free and the longer the people put off paying that bill, the higher the price eventually becomes.
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