Wall Street WARZONE

Bernanke: “Zero Rates till 2014.” More Cheap Money for Wall Street, Bad News! Ben’s Blowing a Huge Bubble. Plan Now for a New Worldwide Meltdown. After the Crash, These “20 Rules” of the “New (No-Growth) Economics” Will Dominate Global Politics!

by Paul B Farrell, JD, PhD
| Print | 2/3/2012

Yes. a “New (No-Growth) Economics:” Why, because everything you know about economics is wrong. Everything Bernanke knows about economics is wrong. And it will change, after the coming crash.

A whole “New Economics.” With new rules.  Why? Classical economics is fatally flawed. So investors better learn the new rules that’ll win in the “New Economy” dead ahead. Delay, deny, you’ll lose. After the coming global collapse—the big wake-up call—classical economics will be exposed as a fraud sabotaging investors, killing capitalism, destroying America … and the world.

Yes, 20 new rules. Why? Because everything you know about economics is wrong. Everything. Wrong. The old economics is a rigged game in Wall Street’s casino. The cards are stacked in favor of the banks and their co-conspirators, political lobbyists, corporate CEOs and the Super-Rich. The house always wins. You always lose. Worse, America is losing.

Here’s why: All classical economic ideas derive from one central idea. Not even a scientific theory, merely an unproven hypothesis. Worse, all economic conclusions are based on this illusion, a fantasy, myth, wishful thinking. Consequently, all economic conclusions are speculations favoring Wall Street, corporate CEOs and the Super-Rich.

“Eternal Growth:” Bad economics, unscientific, old myths

Here’s the one central (and fatally flawed) hypothesis of all traditional economists today—from Bernanke’s Fed staff, economists in the World Bank, IMF, CBO and White House economic advisors, to economists at Wall Street banks, think tank and academic economists—is their unquestioned acceptance of the dogma of “Eternal Growth.”

All economic thought evolves from one unproven and fatally flawed hypothesis: The unscientific assumption that the global economy will continue growing indefinitely … that the world’s economies will be able to support global population growth indefinitely … and that all necessary commodities and essential natural resources will be available indefinitely to sustain the world’s relentless economic and demographic growth.

Unfortunately, that’s impossible. Absurd. Irrational. Unscientific. Just plain wrong. That’s right, the core assumption of classical economics and American capitalism is an illusion. So are all their economic conclusions. Get it? America’s entire economic system is based on one crucial yet unproven premise that taints the work of all economists. Worse, most are blind, still refuse to see that their own system is not only fatally flaw, it proves the need for a “New (No-Growth) Economics.”

Here’s the 20 Rules Manifesto for the “New (No-Growth) Economics:” Twenty rules, trends, principles emerging after Wall Street and the American economy get hit by another bigger meltdown, totally predictable in today’s self-destructive political arena. Warning: Even with another market meltdown, taxpayers may still get duped into bailing out the banks again. Eventually, however, they will wise up and revolt against this corrupt system.

20 “New Rules” emerging through crashes and wake-up calls

Why shouldn’t you trust economists anymore? Since the 2008 meltdown it became painfully obvious that America’s 15,000 traditional economists were clueless (as were more than 50,000 portfolio managers and all government leaders in both parties). Not just because they’re paid mercenaries. The real problem is their brains are short-term thinkers. They really cannot see the future. So they simply project old data. They’re not future-thinkers. They missed the last crash. They will also miss the next one. …. read the “20 Rules” and full column in MarketWatch.com

1 Response to Bernanke: “Zero Rates till 2014.” More Cheap Money for Wall Street, Bad News! Ben’s Blowing a Huge Bubble. Plan Now for a New Worldwide Meltdown. After the Crash, These “20 Rules” of the “New (No-Growth) Economics” Will Dominate Global Politics!
  • coudray says:

    Paul, You are absolutely correct on this, as usual. With resources dwindling, we can’t continue to base our economies on unrestricted growth. We need to define new ways of moving forward that are not continually based on consumption.

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