NOURIEL ROUBINI
The historic protests sweeping America were long overdue, not just as a response to racism and police violence, but also as a revolt against entrenched plutocracy. With a growing number of Americans falling into unemployment and economic insecurity, while major corporations take bailouts and slash labor costs, something had to give.Dr. Doom gets it mostly right. He needs to take the macro view, ultimately how will Congress take our money?
Via the central bank taxing authority. In the end, the central bank, as it is currently theorized has no alternative but to fund government and send the seigniorage taxes down to the new generation. Without any sound theory of banking there is no other escape for Congress. And the central bank tax is arbitrary, regressive and will cause a rebellion as it has so many times in the past.
At this point I recommend the Antificants to look closely at this issue, it is a win-win if they make their rebellion over this cause. After the rebellion the theory of magical banking should be dead for quite a while.
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