Like a powerful drug, the phony money corrodes and disfigures your economy. Your teeth rot; your brain shrivels.
Markets, economies, and even empires move in great, long-term swings. Sometimes they are forward-looking and expansive. Sometimes they retreat…
You could buy the Dow with 40 ounces of gold in January 2000. By January 2011, the Dow 30 stocks would cost you only 8 ounces.
So far, the big, fat, ugly Dow has sat on the wall and stubbornly refused to tumble. But last week, Donald J Trump gave Humpty a shove.
‘It’s all part of a plan,’ explained a colleague. ‘Trump is not book smart; he’s smart like a fox.’ ‘He knows that Americans need to see some economic improvement in … Read More
Life is about holding on to what you’ve got. This wing of the .01% has money so old that most have forgotten how it was made.
The Fed lowers rates. More money flows into asset prices. People think their stocks are worth more. But they are probably less valuable.
What kind of capitalism is it when the capitalists drive up their share prices rather than producing goods and services that they can sell at a profit?
The money is fake. Interest rates are artificial. Prices are fraudulent. And today, the price signals are worthless.
The guardians of the world’s most important measures of value said they would lend more fake money at even fakier interest rates.
Short-term finance is great for short-term speculators. But it is bad for business. You can’t build a real, prosperous economy with overnight money.
Setting artificially low interest rates made the downtrend worse. Growth slowed further. The Swamp deepened. The empire grew bigger and more corrupt.
The Democrats were early adopters of the ‘deficits don’t matter’ flapdoodle. Once in power, Republicans found it useful, too.