Hugh smith on the institutionalizations of risk. Now to some degree the primary

http://charleshughsmith.blogspot.com/2014/11/nothing-has-changed-and-thats-problem.htmlCharles Hugh smith on the institutionalizations of risk.

Now to some degree the primary purpose of a government is now insurer of last resort.

But since this insurance is incalculable it is merely a vehicle for transfers.

The privatization of commons and the socialization of losses.