Fascinating events in the financial world have been sudden reversals from straight up to straight down. Sunshine forever to gloom in a relatively short time.
Much the same can happen in the political markets. On the huge global commodity boom to 1920, the political left became very excited and ambitious. With the crash, political furies diminished, allowing constructive reform.
Soviet Russia went from full on communism to a softer socialism
With the change, Soviet Russia went from full on communism to a softer socialism. But the governing classes continued to exercise the privilege of state murder.
In America, government reversed from nationalizing railroads to privatizing them. With Western Europe's reduction in socialism, retail consumption improved. Indeed, in an article published in "The Atlantic" in 1928 all of this was touted by John Moody as the reason why nothing could go wrong with that great financial bubble.
The record is that both financial and political manias can run to speculative exhaustion and reverse. Markets and economies can contract, intense political activity can deflate.
And those committed to promoting and protecting authoritarians can have a change of heart. On the political clock, relatively suddenly.
Which was reviewed in "Popular Uprisings Can Be Sudden" published on October 29th, of course written a few days earlier.
This included: "One might just as well ask how benign popular uprisings work? And trying to explain it without history relies upon conjecture rather than scholarship."
Another observation was that the tipping point occurred when the guards suddenly discovered who the bad guys really were.
Today's equivalent are "Swamp Guards", otherwise known as the Main Stream Media
The key step to successful popular uprisings has been that those guarding the predatory establishment lose the will to protect corruption. In ancient times, the palace guards laid down their spears. With the Berlin Wall, the border guards laid down their machine guns.
Today's equivalent are "Swamp Guards", otherwise known as the Main Stream Media.
What prompts an update so soon is an important news item.
Glenn Greenwald has been an outstanding investigative journalist. As Pulitzer Prize winner he has strong street creds with the Left.
This week, Greenwald shockingly resigned from the "intercept" the news website he co-founded. Earlier, he had worked for "The Guardian" and their report included:
"The investigative journalist Glenn Greenwald has resigned abruptly from the Intercept,…and accused the organization of seeking to censor him over a planned article critical of the Democratic nominee, Joe Biden."
The following interview with Tucker Carlson provides more coverage:
The following Victor Hugo observation is well-known: "Nothing more powerful than an idea whose time has come."
He also wrote one linking commercial markets to political change: "A day will come when there will be not battlefields, but markets opening up to commerce and minds opening up to ideas."
Perhaps Greenwald's "abrupt" step is the first of many on the road to journalistic reform.
No matter in what century they occur, benign popular uprisings have been inspired by one thing—the iniquity of governments living the good life while the taxpayer suffers hardship and driven to desperation begin to say “No!” to the bullies.
Such opposition to the privileged has been shocking.
Bob Hoye (BobHoye.com) has been researching investments for decades, which eventually included the history of financial and political markets. He considers now to be the most fascinating time for both since the Great Reformation of the 1600s. Bob casts a caustic eye on all promotions and, having a degree in geophysics, is severely critical of the audacity that a committee can “manage” not just the economy, but also the temperature of the nearest planet. He has had articles published in major financial journals and, as a speaker, has amused assemblies in a number of cities, from London to Zurich to Tokyo.
Fascinating events in the financial world have been sudden reversals from straight up to straight down. Sunshine forever to gloom in a relatively short time.
Much the same can happen in the political markets. On the huge global commodity boom to 1920, the political left became very excited and ambitious. With the crash, political furies diminished, allowing constructive reform.
