The Consequences of System Failure

The Consequences of System Failure by Michael Krieger – Liberty Blitzkrieg

In short, every major political institution has been increasingly discredited as Brazil has spiraled deeper and deeper into a dark void. And from the abyss emerged a former army captain and six-term congressman from Rio de Janeiro, Jair Bolsonaro, with the slogan “Brazil above everything, God above everyone,” and promises to fix everything with hardline tactics.

– From today’s Intercept article: Jair Bolsonaro Is Elected President of Brazil. Read His Extremist, Far-Right Positions in His Own Words.

It’s been only a little over two years since the people of Great Britain surprised the world by voting to leave the European Union. Just a few months later, this nascent trend of political shock continued with the election of Donald Trump.

This tectonic shift toward political upheaval has continued to spread throughout much of the world, with Italy and Brazil being two more recent examples. That something very major and very global is happening is undeniable at this point, yet everyone seems to have their own pet reasons for why it’s occurring. I continue to stick to the same thesis I’ve had for nearly a decade, which is that the dominant global economic/financial paradigm led and managed by the U.S. has failed and is experiencing a slow, painful and dangerous death.

This reality was temporarily papered over by the shady and extremely corrupt financial bailouts of a decade ago. An event that focused all government resources on rescuing the already rich and powerful, while keeping bank executives out of prison.

Ten years ago, all of America’s resources were irresponsibly and aggressively marshaled toward the sole purpose of resuscitating a dead system and keeping it on life support. Rather than jail those who committed egregious fraud and ask the difficult questions about the sustainability of the global financial system, those in charge pretended nothing was wrong and just threw money at the problem. This (coincidentally I’m sure) ended up making those who were rich and powerful before the crisis even more rich and powerful after it. Now it’s 2018 and the world’s staring straight into the face of a gigantic unpayable debt bubble, as well as an overextended and hyper-aggressive U.S. empire abroad.

Incredibly enough, many people still have no conception of what’s actually going on.

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Michael Krieger

As far as my academic and professional background, I attended college at Duke University where I earned a double major in Economics and Spanish. After completing my studies in 2000, I took a job at Lehman Brothers where I worked with the Oil analyst in the Equity Research Department. In 2005, I joined Sanford C. Bernstein where I served as the Commodities Analyst on the trading floor. About halfway through my time there, I started to branch out and write opinions on bigger picture “macro” topics that no one else at the firm was covering. These opinion pieces were extremely popular throughout the global investment community, and I traveled extensively providing advice to some of the largest mutual funds, pension funds and hedge funds in the world. I loved my job, but as time passed I started to educate myself about how the monetary and financial system functions and what I discovered disgusted me. I no longer felt satisfied working within the industry, and I resigned in January 2010. At that point, I started a family investment office and continued to write macro pieces on economic, social and geopolitical topics. That summer, I drove cross country for six weeks and ultimately decided to leave the crowded streets of Manhattan for the open spaces of Boulder, Colorado, where I currently reside.