'..The multi-decade global Bubble has caused unprecedented wealth inequality, uncertainty and fragility – within and between nations..''That so many things are coming to head is no coincidence. Late-stage historic global Bubble. The rise of insecurity, populism in the U.S., President Trump and the Chinese as a popular (can’t lose) political target. The rise of Chinese economic might, financial power, technological prowess, global influence and rapidly expanding military capabilities. The multi-decade global Bubble has caused unprecedented wealth inequality, uncertainty and fragility – within and between nations. And an increasingly disenchanted U.S. middle-class has manifested into a country deeply divided economically, socially and politically – more distrustful of its institutions and seeking scapegoats.
..
I tend to look at the Chinese Bubble, with its 1.4 billion citizens and unprecedented government control over finance, the economy and society, as the climax of a multidecade global Bubble that, in important respects, gathered initial critical momentum in Japan. China, however, has used the Bubble to incredibly expand its global economic, financial, technological and military ambitions. One cannot overstate the global ramifications for a faltering Chinese Bubble. There is a multidimensional Arms Race aspect – economic, financial, technology, military and geopolitical power.'
- Doug Noland,
Deal or No Deal, May 11, 2019
Context'..And to put it very bluntly, “frustration” is inadequate to describe the result of underfunded pensions..'