We can all pretend to be fantastic until the floor collapses beneath us. At that point, complacency / denial gives way to panic, but it’s too late to effect any realistic reversal of fortune.

Now that the overlapping crises are upon us and the banquet of consequences is being served, we’ll see just who our elites and leadership really are. The erosion of trust doesn’t require intent, it only requires the blind pursuit of self-interest above all else.

The Fed has trained the trading-rats all too well, and there is no way to avoid the unintended consequences of the Fed’s large-scale human behavioral experiment.