Authored by Charles Hugh Smith via OfTwoMinds blog
"For two generations, globalization and financialization have been the two engines of global growth and soaring assets...
"A key element in globalization is the transfer of risk from the owners of capital to the workers and public resources...
"The Federal Reserve and other central banks enabled this exploitation, but they're powerless to extend it: central banks can create nearly free credit for the powerful, but they can't conjure up new herds to be preyed upon...
See the entire article over at ZeroHedge.
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