next bailout

When the Elites Push the Next Bailout, Remember Brexit

The impending financial crisis will bring calls for the next bailout. Remember their warnings are always lies.

The establishment is spreading insane fears about what will happen if Donald Trump is elected, and they will do the same to convince us that we need to implement the next bailout of the billionaires.

As Donald Trump has candidly acknowledged, we are headed toward another economic crisis. The mainstream media has started to admit it. There will be plenty of real fear unleashed when it happens and we can count on the corporate media to direct that fear into the next bailout.

Just like they did with Brexit. According to The Guardian:

Unemployment would rocket. Tumbleweed would billow through deserted high streets. Share prices would crash. The government would struggle to find buyers for UK bonds. Financial markets would be in meltdown. Britain would be plunged instantly into another deep recession.

Remember all that? It was hard to avoid the doom and gloom, not just in the weeks leading up to the referendum, but in those immediately after it. Many of those who voted remain comforted themselves with the certain knowledge that those who had voted for Brexit would suffer a bad case of buyer’s remorse.

It hasn’t worked out that way. The 1.4% jump in retail sales in July showed that consumers have not stopped spending, and seem to be more influenced by the weather than they are by fear of the consequences of what happened on 23 June. Retailers are licking their lips in anticipation of an Olympics feelgood factor.

The financial markets are serene. Share prices are close to a record high, and fears that companies would find it difficult and expensive to borrow have proved wide of the mark. Far from dumping UK government gilts, pension funds and insurance companies have been keen to hold on to them.

Economists had also promised more unemployment in London. Unemployment dipped.

All that fear was baseless.

In fact, pro-Brexit voters mocked it at the time.

They knew that the hysterical warnings were phony.

By the way, this is the playbook. The same thing happened to Norway. Thankfully, the majority didn’t fall for it:

And it will be the same when all the elites claim that our banks and corporations are too big to fail. They will spell out all sorts of future disasters to get their way.

If we had defeated their lies back in 2008, we could have a healthy economy building real wealth right now instead of this tottering, anemic “recovery.”

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Joe Scudder

Joe Scudder is the "nom de plume" (or "nom de guerre") of a fifty-ish-year-old writer and stroke survivor. He lives in St Louis with his wife and still-at-home children. He has been a freelance writer and occasional political activist since the early nineties. He describes his politics as Tolkienesque.

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