The Aftermath of Global Frauds

Remember the world’s tallest office tower, in Dubai? Economist Andrew Lawrence came up with the Skyscraper’s Index. Apparently, the buildings go up in bubble economies. Then, the bubbles explode…leaving the buildings standing. The owners and builders typically go broke in the aftermath. Note the last line of the chart.

Most of world’s most popular undertakings are mostly giant frauds.

Hitler said his people needed ‘living room.’ Besides, the Germans were the people who were supposed to unite Europe against the Bolshevik/Jewish menace. Would the typical mitteldeutschelander be better off as a result? There was no reason to think so; it was just a popular flimflam.

The Russians supposedly rose up in 1917 to create a ‘workers’ paradise.’ The Chinese followed suit 30 years later. Did the workers get a paradise? Quite the contrary, they got Hell on earth.

Towards the end of the century came the promise of technology…which blew up in 2000…and then the War Against Terror in 2001. And now, there’s a war against depression, similarly hopeless, futile, and expensive.

And, of course, there is the campaign to control the world’s climate. We hadn’t kept up with the battle to control CO2. But it has suddenly burst into the headlines…

Is the planet heating up? If so, is human activity the cause of it? No one knows. But thousands…millions…of people make their reputations, their careers and their fortunes by promising to do something about it. Al Gore, for example, has made millions of dollars by promoting his alternative energy investments.

“Anthropomorphic Global Warming,” is just a hypothesis. It is also a scam, says The Daily Express:

All of a sudden, global warming is getting bad press. Why? Some of the top scientists pushing global warming were caught in flagrante delicto…apparently ready to bury data that didn’t agree with them and shun unbelievers. One of them has since resigned.

“Climategate,” the press is calling it.

About Bill Bonner 144 Articles

Affiliation: Agora Financial

Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries. A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America’s most respected authorities.

Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally. With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance.

Since 1999, Bill has been a daily contributor and the driving force behind The Daily Reckoning.

Visit: The Daily Reckoning

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