“We are all in a ponzi-world right now, hoping to get bailed-out by the next person”

One of the most important Zero Hedge posts of the last few years was “The “Muddle Through” Has Failed: BCG Says “There May Be Only Painful Ways Out Of The Crisis”” where The Boston Consulting Group (BCG) helped explain how the economic establishment is trying everything to move the system further with ever more cheap money and debt, why this will fail, and the inevitable wealth taxes that will be imposed to refloat the system from the ashes.

One of the authors of the infamous “Back to Mesopotamia” report (if 1984 is the instruction manual for political leaders, then this is the instruction manual for monetary leaders) was BCG senior partner Daniel Stetler, now blogger, and author “Debt In The 21st Century” who sees debt and leverage as the main factors driving wealth and inequality – a fact clearly overlooked by Piketty.