One phrase describes the Fed’s pillaging of the nation to benefit the few at the expense of the many: abuse of power.
The post-bubble-crash phase is already being prepared: ‘no one could have seen this coming’–except anyone who paid attention to anything other than self-interested shills.
A drought-stricken forest choked with dry brush and deadfall is an apt analogy.
Is that the scent of smoke? What’s that red glare? Must be nothing.
So sorry, America, but your central bank is certifiably insane, and it’s not going to magically work out.
Viewed as a complex non-linear system, the pandemic variants can only be controlled by drastically pruning the physical connections between disparate global groups.
But once this last pool of wealth–America’s middle class– has been siphoned dry, then who’s left to stripmine and exploit?
This wholesale transfer of risk from elites to the workers is finally becoming consequential as wealth / income / security inequality is reaching extremes that are destabilizing society and the economy.
The global economy may have finally run up against hard limits of “infinite substitution” and “infinite expansion” funded by central-bank free money.
The truth is America has lost its way if commoners pay a rate of 40% but its billionaires pay next to nothing.