Anyone claiming they can project the trajectory of the U.S. and global economy is deluding themselves.
The best-case scenario is those who love their “great city” will accept the daunting reality that even greatness can go bankrupt.
Rather than right the ship, the “easy fix” is to distribute “free money”–not just to billionaires and corporations but to everyone.
The heretical truth is that many of the “consumption rituals” that signified “prosperity” for decades are either meaningless, unaffordable or require way more effort than the meager payoff is worth.
Just as time is a one-way arrow, “the politicization of everything” is a one-way road to dissolution and collapse.
The “take this job and shove it” exodus is silently gathering momentum.
The battle to claw back a significant percentage of the $50 trillion is just beginning.
Those who don’t see the fragmentation, the scarcities and the battlelines being drawn will be surprised by the acceleration of the unraveling.
This is why inflation will rip everyone’s faces off: production will continue to stagnate no matter how many trillions the Federal Reserve prints and throws around.This is how market capitalism is supposed to work: consumers decide…
Pretense and PR are not reality, and believing the Old Normal will magically be restored with sacrifice-free Federal Reserve printing is not an actual strategy.Quick history quiz: who was the second-to-the-last Emperor of the Western Roman Empire? …