Unelected profiteers

The absurdity of the current Global economy is truly frightening.

Laissez - faire, market driven globally inflicted policies which ignore the local economic conditions. They project a 'market' derived from the capacity and the proclivity of the producer, not the needs of the consumer, culturally or economic. It is a disaster waiting to happen. 

Global capitalism is as unrealisable as Global communism.

The use of new technology makes the aim towards 'full employment' unattainable, and with it economic security for the majority is being reduced by the world economy. 

This will lead and is already leading to a rise in counter movements within society which whilst currently only proving an irritant give rise to 'far right' parties which mirror the 30s. Who would have predicted Herr Hiller would become popular amongst his own people without the economic strains imposed on that society by the Versailles Treaty.

It must be understood that laissez-faire markets are not the same as the normal market place which you see in any modern society. 

Laissez-faire markets by definition must be unencumbered with democratic oversight.

Nothing must allow the market to be inhibited. Regulation other than by the market is prohibited.

It could be argued that the raison-d'être of government is their ability to protect their citizens according to their manifesto. A global regime of global laissez-faire prevents governments from discharging this role and is creating great political and economic instability across the world.

Couple this with the financial deceit practised by institutions and governments, financial engineering, practised by dodgy Banks, is now practised by beleaguered governments. 

 Complex financial techniques, originally used for repackaging residential mortgages, are used by governments to finance bailouts and ambitious infrastructure investment programs to overcome the lack of available funds. Governments use creative accounting to understate their debt levels and "off-balance sheet structures, delayed and extended time line payments, to massage the level of borrowings. They consistently understate the liabilities on their books such as un-financed commitments such as 'retirement benefits'.

The Spanish used billions of tax losses to bolster regulatory capital and artificially improve the solvency of their banks. Merkel in her promise not to burden her people with the Greek bailout agreed to the bailout debt being restructured so as to have minimal interest rates and repayments deferred well into the future to maintain the fiction that the debt would be repaid.

The result of all these shenanigans is a corrupted financial landscape which will burden us all well into the foreseeable future. 

Political governance has been emasculated by Wall Street. We are now governed by the needs of a boardroom of unelected profiteers !!