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How much private credit has been put in place but isn’t in the official credit total is unknown and very likely unknowable. That means total systemic risk is also unknowable.

We no longer care who’s behind the curtain because we’re in charge of our own lives now.

As I said, having a sense of humor will get you in trouble nowadays, and this whole thing would be funny if I wasn’t in leg-irons.

A rebalancing of the economy and society will ultimately prove very positive, but first we must navigate the model collapse of insane financial extremes.

Every nation is operating on models that are collapsing without those at the controls being aware that the implicit assumptions of their models no longer map reality.