The idea that here are controllers is scary on its face, but actually comforting. It is very much like the vast conspiracy theories. Casts of millions conspiring to give control to a few who sit at a big table and figure it all out. You can posit the CFR or the IMF or the UN or the Justice League as running things. And you would be wrong.
The truth is much, much scarier. Yes there are powerful groups of frightfully rich and powerful people out there. They do have an influence. But they don't really control things. They can corner a market in some narrow areas. Look up LTCM.
A huge amount of capital and influence and control. And it all slipped away because they failed to understand that as much as it is possible to plan ahead in narrow fields and for limited times it is ultimately impossible to predict the future with sufficient accuracy to avoid a fall. Many of the same people and concepts that were in play with LTCM were involved with Michel Milken and Enron and the housing bubble and the crash in silver and ... You get the idea.
Of course we will never have sound economic policies without the economists understanding one thing: http://impossiblehamster.org/
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