The Bubble That Will Break America
Today is May Day, the traditional day in Europe to celebrate worker's unity. But workers of the world are not united, they are chopped apart by sovereign boundaries and political divisions and have been set against each other in competition with each other across the planet thanks to 'free trade'. Then, to make the mix even more explosive, the leaders of many nations have opened their borders so illegal workers could flood in and dilute national powers of organized workers. This has done two things: allowed cheap lending for the great powers, expanded the profits of exporters, expanded the money base without sharing it with workers and prevented inflation. But now that process is crashing due to the inability of workers to sustain a modern manufacturing base in the 'developed' countries. So the only thing the G7 seem able to produce is prodigious debts. This is causing their entire banking and governmental systems to break down or slide into bankruptcy. To see how this works, we must use the Time Machine called 'books' to peer into the past yet again.
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