What the hell is "The Bezzle"...well it's not part of your bling or a drug or slang for oral sex.....It's the biggest problem we face....it is being given trillions of dollars and cover by governments around the world. Simply it is corruption and the term was penned by the great economist John Kenneth Galbraith....
"One of the great minds of economic thinking, John Kenneth Galbraith, long ago pointed out an interesting bit of herd behaviour that seems to reoccur in every bubble. According to Galbraith, whenever we got to the end of a bubble, the Bezzle — a term for, basically, corruption — will always rise. You can set your watch to it. As a bubble inflates the early euphoria of "new money" begins to fall away and as the end comes into sight the players closest to the action get agitated and begin doing whatever they can to grab whatever they can off the table before it all falls apart. And so it was with the recent U.S. housing bubble."
Rise of the Bezzle
i'm 55 years old....retired and disabled...I remember the past recessions of 1970-74,80-82,90-91 and this cycle is like no other. Bigger already then anything I recall. A supercycle top to be sure....The biggest longest bubble ever created....tulip mania...roaring 20's....is nothing compared to this bubble...and "The Bezzle" that was a part and parcle to what was created in America to the boom of all booms.
So the bezzle is are biggest problem....I gather it will be the talk of the nation tomorrow....as the Dow and your 401K sinks lower and lower.
What can Americans Do?? This is spinning out of control....Trillions of public money are being spent....and the "Bezzle" goes uncovered.
I going to provide a link here...I don't agree with everything Karl Denninger rights...but right now....He is a voice in the wilderness and every American needs to understand and learn about "the Bezzle" and what it means for the future of our great country....
Challenge Before America