In a microcosm Puerto Rico looks very much like the United States might in just a few years, and for the same reasons.
After driving interest rates into the negative in numerous countries around the world and despite being charged with reducing systemic financial risk, central banks around the world are speculating in risk to improve their portfolio returns. The irony of aiding and abetting yet another financial bubble is apparently lost in the equation.
Seizing on the media- and government-manufactured “Panama Papers” brouhaha, governments and globalist organizations announced a wave of new edicts and agreements last week in a plot to kill what remains of financial privacy rights and impose a radical global tax regime on humanity. The Obama administration, the United Nations, the World Bank, the International Monetary Fund, Socialist International, the European Union, and more are fully behind the effort. Of course, as this magazine has documented, those establishment forces, socialist groups, international organizations, tax-funded shills, and bloated governments have been pushing the same dangerous agenda for years without much success. Now they see their chance.
Despite a moribund economy, the Dow Jones Industrial Average has more than doubled in value over the past seven years, recently surpassing 18,000. Is the run-up in stock prices sustainable, or is another bubble forming — one which could burst at any moment?