We can also posit a general rule that those who inherit wealth and succumb to FOMO are eventually less wealthy while those who are wealthy and take a pass on FOMO / hoarding at the top of the manic frenzy increase their wealth.
We need to change the incentives of the entire system, not just healthcare, but if we don’t start with healthcare, that financial cancer will drag us into national insolvency all by itself.
The Fed has created trillions out of thin air to boost the speculative wealth of Wall Street, but it can’t print experienced workers willing to work for low wages.
So hey there Corporate America, the Fed and your neofeudal cronies: take this job and shove it. This time it really is different, but not in the way the Wall Street shucksters are claiming.
But weirdly, and irrationally, bubbles pop anyway.
Despite their hollow bleatings about ‘doing all we can to achieve full employment’, the Fed’s policies has been Kryptonite to employment, labor and the bottom 90%–and most especially to the bottom 50%, the working poor that one might imagine most deserve a leg up.
This is a syndicated repost courtesy of oftwominds-Charles Hugh Smith. To view original, click here. Reposted with permission. What’s left are the ‘fatal synergies’ of soaring debt and leverage, diminishing returns on stimulus, the substitution of credit for savings and the coming deflationary tsunami that pops all the speculative bubbles. Imagine a once modest but…
Events that devastate the majority financially greatly enrich the few who bet on non-linear dynamics.
I’m sure it’s no surprise that the next five years will be risky and challenging; to the degree that we will be reliant on those closest to us, we are sharing a virtual lifeboat.
The sheer weight of this outlandish asymmetry of wealth and power is pulling the nation into disorder.