The finance capitalists are euphoric as the Federal Reserve pours trillions of dollars into their firms. Stupidly, they act as if the lack of investment in the real economy won’t come back to haunt them. But the coming bottoming out of oil prices, plus the productive and consumptive slump in real production and consumption, plus a massive default in loan payments by peripheral countries will be part of the Grand Reckoning.
Listen/read at Michael Hudson
