Zombie apocalypse? Economic zombies thrive off of state spending
Funded by cheap credit and government spending, Bonner foresees an impending war ahead between the zombies 鈥� people who take money from the productive sector of the economy and transfer it to themselves 鈥� and the productive parts of the economy.
Funded by cheap credit and government spending, Bonner foresees an impending war ahead between the zombies 鈥� people who take money from the productive sector of the economy and transfer it to themselves 鈥� and the productive parts of the economy.
Coming soon鈥 Zombie Apocalypse鈥�
You must be getting tired of hearing us talk about zombies. And maybe we are getting a little obsessed by them. But we see them all around us. And they鈥檙e getting bold鈥razen. They鈥檙e coming out in broad daylight.
Here鈥檚 an article that appeared last week in The Wall Street Journal:
Yes, dear reader, the zombies are everywhere. Lobbying. Spending. Getting disability and bailouts. Every US government program is full of zombies.
Why so many zombies? What you pay for is what you get. And with the 鈥渘ew鈥� dollar after 1971, the feds could buy a lot of zombies.
Remember, zombies are people who take money from the productive sector of the economy and transfer it to themselves. As they grow more numerous and more powerful 鈥� thanks to the resources that go their way 鈥� the productive part of the economy is less and less able to support them.
Fewer and fewer workers鈥ore and more zombies.
Fewer and fewer people producing things鈥hile more and more people just consume them.
Everything is okay as long as the resources keep flowing. But the productive sector of society can only support so many zombies. Yes, the producers can be bamboozled into supporting more 鈥渆ducation鈥� and more 鈥渄efense鈥� when they are flush. But when times get tough, the zombies and the producers head for a showdown.
Scott Walker won a battle in Wisconsin. But the zombies鈥� power still grows 鈥� funded by cheap credit and government spending. A larger war lies ahead.
*** Poor Mr. Obama. We warned George W. Bush and his henchmen that they would be held accountable for torturing people. It鈥檚 clearly against the law. It violates treaties and conventions that the US signed. And sooner or later some ambitious, gutsy or na茂ve judge is going to issue a warrant for their arrest.
鈥淪tay in Texas,鈥� we told the ex-president, or he is likely to fall into a judicial trap, like Chile鈥檚 former head of state, Pinochet.
Now, Mr. Obama better put his passport away too.
Regards,
Bill Bonner
听蹿辞谤 The Daily Reckoning