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IPFS News Link • General Opinion

Von Greyerz: All Hell Will Break Loose For Humanity

• https://www.zerohedge.com by Tyler Durden

The consequences will be fatal for the world.

There are eras in history which have produced great leaders and thinkers. But sadly, the current era has produced nothing of that kind. The end of an economic cycle produces  no great leadership or statesmanship but only incompetent leaders.

Looking at the Western world, the only notable statesman in the last few decades in my view is Margaret Thatcher, prime minister of the United Kingdom from 1979 to 1990. 

But political leaders are of course instruments of their time. Sadly times as the current don't produce Superior Men.

As Confucius said:

"The Superior Man thinks always of virtue, the common man thinks of comfort."

It is the buildup of a massive debt mountain which has given the Western world a false comfort based on false values.

As I have pointed out many times, the US has increased its debt every year since 1930, with a couple of minor exceptions in the 1950s and 1960s. The Clinton surpluses in the late 1990s were fake and in fact deficits.


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