Who’s going to Eat the Losses?

We’re now in the end stages of empire.  We’re down to the “thrashing about” stage.

When you sum up the gross imbalances between future claims (debts) and future income it’s very clear that the entire system is insolvent.

What comes next is bankruptcy, and in the dissolution of our many social agreements and bonds – with none more vital and central than money itself – there’s really only one question left to be resolved:

Who is going to eat the losses?

Naturally, the many parties involved don’t want it to be them.  They’d rather it was somebody else.   The rich would like the poor to shoulder the losses.  The government wants workers and retirees to absorb the hits.  Corporations want labor to take the pain.  The older generations want the youngsters to pay for their retirement.  The banksters want everybody but them to eat the losses.

You can avoid being the losing party, but only if you are both extremely well-educated and nimble.  But, in a pinch, we might note that the coming wealth transfer will have a bright dividing line on one side of which are paper claims and on the other side is tangible (i.e. primary and secondary) wealth.  Paper vs. things.