As the economy is taken over by zombies, more and more people are needed to do the zombies work shifting more and more of the economy’s output to the insiders.
The insiders rig the system for their own benefit. The rigs – each one of them a form of price-fixing or central planning weaken the system. In today’s battle, the insiders fight to protect it.
They do not want failed institutions to disappear. Instead, they want them subsidized.
They don’t want failed regulations eliminated. Instead, they want more regulation.
They don’t want to fire the failed managers; instead, they promote and reward them. Tim Geithner was head of the New York Fed. The biggest debt bubble in history grew right under his nose. Now, he’s got the top financial job in the US Treasury Secretary. Larry Summers advised the Clinton Administration to encourage more debt, speculation, and leverage; now he’s head of Obamas team of economic advisors.
And in Europe, the Goldman bunch who might have been hung for sinking banks, pension funds, and sovereign nations under debt is brought in to solve the crisis they caused. They’ve got their men in the top job in Italy and at the European Central Bank.
The outsiders, on the other hand, don’t have a goal. They are like the OWS…or the market itself. Wild, disorganized…with unclear intentions and uncertain beneficiaries. You can’t support them…because you don’t know who they are or what they want. They’re outsiders!
The insiders represent the past. The outsiders represent the future.
And how will it all turn out? In the end, the future will come…whether we like it or not.
for The Daily Reckoning Australia