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If we have indeed begun a sustained “reversal of fortune”, it might be prudent to consider the possibility we’re only in the first inning of a sustained run of back luck. In our self-deluded hubris, we reckon we’ve moved beyond the influence of fortune, a.k.a. Lady Luck: our technologies are so powerful and our monetary policies so godlike that nothing as random as luck could ever crush our limitless expansion.

All the tricks to hide our unaffordable cost structure have reached marginal returns. Reality is about to intrude. There is much talk of tyranny in the political realm, but little is said about the tyrannies in the economic realm, a primary one being the tyranny of high costs: high costs crush the economy from within and enslave those attempting to start enterprises or keep their businesses afloat.

Here’s looking at you, Federal Reserve–thanks for perfecting ‘legalized looting’ and neofeudalism in America. The problem with pushing a pendulum to its maximum extreme on one end is that it will swing back to the other extreme minus a tiny bit of friction.

One of the dishes at the banquet of consequences that will surprise a great many revelers is the systemic failure of the Federal Reserve’s one-size-fits-all “solution” to every spot of bother: print another trillion dollars and give it to rapacious financiers and corporations. Though 2020 is widely perceived as “the worst year ever,” it was only a snack.