Our Economy Has Morphed Into A Ponzi Scheme
As technology is rapidly replacing the need for human jobs and financial deleveraging is driving the Zombulation of the industrial age....
$100 BILLION DOLLARS OF QUESTIONABLE PROMISES THAT NOBODY KNOWS WHETHER THEY ARE POSSIBLE TO FULFILL
A dollar bill, a mortgage, a share of stock, a bond, or a securitized asset....all simply pieces of paper evidencing future promises that are becoming increasingly impossible to fulfill absent creating more promises.
Anyone ever heard of a ponzi scheme?JPMorgan unit has $100 billion in securitized assets, structured debt: FT