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EU parliament chief warns of bloc’s ‘implosion,’ says people lost trust in ‘entire institutions’
EU parliament chief warns of bloc’s ‘implosion,’ says people lost trust in ‘entire institutions’
“Europe has been on a sliding slope for some time now. Many people’s trust in institutions, whether national or European, has gone,” Schulz said in an interview with the Frankfurter Allgemeine Zeitungnewspaper.
“Hardly any of the governments is fighting to reach the hearts of the people,” Schulz said, blaming heads of states and administrations for the loss of confidence.
There is a high risk of an “implosion of the EU,” Schulz added.
“If the British leave the EU, there will be [other] demands for further escape referendums,” he warned.
The UK is holding a referendum on its membership in the EU on June 23. All British citizens who have lived in the UK at some point during the last 15 years are allowed to vote. The latest ORB poll for the Telegraph has meanwhile revealed just a 1 percent gap between Brits who want to stay in the EU and those who want to leave. The survey found that 49 percent supported staying ‘In’ while 48 percent wanted ‘Out’.
As things stand now, Schulz says he doesn’t consider it possible for right- and left-wing populists to come to power in EU member states. While Euroskeptics are still in the minority, “the silent majority seem to be under the misapprehension that everything will go well in the end,” he noted, adding that the outcome of the Dutch referendum on the Association Agreement with Ukraine showed that one “should not rely on [a fallacy].”
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Collapse, Part 4: Loss of Faith in Public Institutions
Collapse, Part 4: Loss of Faith in Public Institutions
Public institutions are now devoted to serving their own vested interests or the interests of private financial Elites.
Though we may think of collapse in terms of ATMs not working and rampaging mobs, collapse actually starts with the intangible loss of faith in public institutions:elected officials, law enforcement, the justice system and the agencies of financial regulation (anti-trust, etc.).
Unsurprisingly to those who discern the structural rot of the status quo,Americans No Longer Believe In Their Institutions:
“Americans’ confidence in most major U.S. institutions remains below the historical average for each one,” a Gallup spokesman said in a news release. All in all, it’s a picture of a nation discouraged about its present and worried about its future, and highly doubtful that its institutions can pull America out of its trough.
Only 8 percent have confidence in Congress, the lowest of all institutions rated. No wonder, given the Congressional credo that we have to pass this bill to find out what’s in it. The latest monstrosity that is cloaked in secrecy and mumbo-jumbo is the Trans-Pacific Partnership (TPP), which Ellen Brown rightly describes as Straight out of Alice in Wonderland:
The terms of the TPP and the TiSA are so secret that drafts of the negotiations are to remain classified for four years or five years, respectively, after the deals have been passed into law. How can laws be enforced against people and governments who are not allowed to know what was negotiated?
If the Trans-Pacific Partnership is so good for the average American, then why not let us read it and be persuaded by the document itself? Instead, the vast machinery of the American central state is devoted to maintaining the secrecy of the bill and crushing all opposition with threats that are no longer even veiled.
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charles hugh smith-Why Living in a Post-Bubble World Is No Fun
charles hugh smith-Why Living in a Post-Bubble World Is No Fun.
What do we do when the bubble economy cannot be reflated?
It is generally conceded that we are living in an era of Peak Everything: peak central bank omnipotence, peak powerless of the non-elites, peak wealth inequality, peak media-induced delusion, peak market-rigging, peak bogus official statistics, peak propaganda, peak bread and circuses, peak deception, peak distraction, peak sociopathology, peak central statism, peak debt, peak leverage, peak derealization–need I go on?
Peaks generate bubbles. Bubbles reach extremes and then they pop. There is nothing mysterious about this causal chain: peaks generate extremes that manifest as bubbles, which eventually implode as extremes revert to the mean and mass delusions are shattered by the unwelcome reality that extremes are not sustainable.
The status quo solution to the devastation of a popped bubble is to inflate another even bigger bubble. If debt reached extremes that imploded, the solution is to expand debt far beyond the levels that caused the implosion.
If fudging the numbers triggered a loss of confidence, the solution is to fudge the numbers even more, so they no longer reflect reality at all.
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