The takeaway here is obvious: earn as little money as possible and invest your surplus labor in assets that can’t be expropriated.
It’s all so pathetic, isn’t it? The only way left to get ahead in America is to leverage up the riskiest gambles.
America’s financial system and state are themselves the problems, yet neither system is capable of recognizing this or unwinding their fatal synergies. why do some systems/states emerge from crises stronger while similar systems/states collapse?Put a…
Nobody thinks a euphoric rally could ever go bidless, but as Greenspan belatedly admitted, liquidity is not guaranteed.
OK, now I get it. Take a couple tabs of Euphorestra and Hopium, and stick to talking about making money in the market. Greed won’t offend anyone.
The Fed’s casino isn’t just rigged; it’s criminally unstable.
All the risks generated by gambling with trillions of borrowed and leveraged dollars didn’t actually vanish; they were transferred by the Fed to the entire system.
The lesson of China’s Cultural Revolution in my view is that once the lid blows off, everything that was linear (predictable) goes non-linear (unpredictable).
All of which sounds very pretty indeed, but it does raise a question: can risk really be destroyed, or can it only be transferred?
Inequality is America’s Monster Id, and we’re continuing to fuel its future rampage daily.