Ayn Rand is a true Prophet.... of Doom

This is a story about how rich, greedy bastards have used the
disingenuous ideas of a Communist spy to ruin their own
versions of capitalism.
Greenspan, the US Fed guy before the Bernank, was a
firm believer and made Rand's ideas into reality. Some
nice, old, criminally psychopathic banker had made a
fictional story come to life. And it'll be the death of us all,
or perhaps the death of this version of capitalism, since
real capital is one thing missing from markets.

And the humanity of the whole thing has got politicians
shitting their pants and then starving their own people.

IshitUnot: zerohedge  [discussing a video which I'll get later]
Hugh Hendry On Europe "You Can't Make Up How Bad It Is"

Submitted by Tyler Durden on 05/02/2012 11:26 -0400

At The Milken Institute conference yesterday, Hugh Hendry delivered his usual eloquent and critical insights on the state of Europe. Beginning with the statement that "All of Europe has defaulted", the canny-wee-fella (translation: shrewd and cautious young chap) explained that "The political economy in Europe is such that the politicians chose to default on their spending obligations to their citizens in order to honor the pact with their financial creditors and so as time goes on, the politicians are being rejected."... Europe.

The underlying reality that what the European monetary union is about is not about preventing a third so-called European civil war, it is essentially about making someone (France, Germany or both) a Great Power, a European Hegemon, and a global player....

[Mr PANOS has an answer for this]



continued:
Hendry confesses to not being able to finish reading Ayn Rand's Atlas Shrugged at around 1:02:00 and explains why (apart from its length and lack of pictures)...noting that is too depressingly real in its description of the world we live in today...

We have reached a profound point in economic history where the truth is unpalatable to the political class - and that truth is that the scale and magnitude of the problem is larger than their ability to respond - and it terrifies them.

Concluding at 1:10:10 - "we are single-digit years away from the most profound market clearing moment"