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Financial Elites and Financial Bubbles -The Great Reset

Updated: Jan 3

"The financial sector functions as the sharp canines that the predator state uses to rend the nation. In addition to siphoning off capital for its own benefit, the finance sector misallocates the remaining capital in ways that harm the real economy in order to reward already-rich financial elites harming the nation." White-collar criminologist and former senior financial regulator William K. Black 2009

Financialization = A greater share of the wealth going to financial institutions (banks, insurance companies, hedge funds, etc.) and financial elites. Often precedes a crash.

"Of the roughly 750 currencies that have existed since 1700, only about 20 percent remain, and all of them have been devalued". - Ray Dalio

In the United States, the size of the financial sector as a percentage of GDP (Gross Domestic Product) grew from 2.8% in 1950 to 21% in 2019.

Links for a Deep Dive on the The Great Reset

The Great Reset Download by John Mauldin

Financial Bubble Articles You Should Read

5 biggest economic bubbles in history

Highly Recommended Article by Avi Gilburt

Sentiment Speaks: It's The Roaring '20s Again - Begin To Prepare For The Same Ending

The Benner Cycles

A VERY successful Options trader Greg Diamond on the Benner cycles

Here is a post on The Rational Investor on the Benner cycles

“In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could." Rudi Dornbusch - German economist

Here is a link to excerpts from "Brother, Can You Spare a Dime?"

The Great Depression 1929 - 1933

By Milton Meltzer

Excerpts from Brother Can You Spare a Dime

Crypto1 Links

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