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So when the gambler ends up juggling lit sticks of dynamite, he’s confident nothing bad can happen because nothing bad has ever happened, no matter how much risk he takes on. The problem with constantly being saved from the consequences of our actions is this fatally distorts our sense of risk.

Addiction is deadly, and no amount of artifice can obscure that this monetary addiction and collapse is the result of one Pusher: the Federal Reserve. To talk about the Federal Reserve raising rates and reducing “easing” as a policy error is like saying the fentanyl addict who reduces his daily dose is making a policy error.

Ponder what a clawback of the $50 trillion might entail, and the immense benefits of returning to producing quality goods and services by completely unwinding financialization and globalization. The happy story that’s been ceaselessly promoted for 45 years is that financialization and globalization have been wunnerful for all of us, boosting wealth and saving a small fortune as the cost of products fell.

The crapification of the U.S. economy is now complete. The only thing left is the tiresome waiting for the implosion of the entire travesty of a mockery of a sham. The U.S. economy has fundamentally changed, and not for the better. There are numerous dynamics behind this decay, and I’ll discuss a few of the more consequential ones this month.