Of Two Minds

In such a highly polarized, politicized environment, is such a scrupulously objective study even possible?

Concentrate wealth and power in the hands of the few at the expense of the many and you guarantee collapse. Very few are willing to face the reality that the U.S. economy was on life support long before Covid came on the scene.

Asset inflation benefits the super-rich more than anyone else because they own the vast majority of these assets. With the reflation euphoria running full blast, maybe central banks will finally get all that inflation they’ve been pining for. So let’s ask –who will benefit from inflation?

So enjoy the GBOAT (greatest bubble of all time) but watch the clock. Sports fans debate who qualifies as GOAT–the greatest of all time in hoops, Kobe, Jordan, Kareem, Magic; in boxing, Ali, and so forth. What we have today is GBOAT–the greatest bubble of all time. That it’s GOAT is beyond doubt, as the charts below reveal.

The core dynamic is ultimately the loss of social cohesion within the ruling elites and in the social order at large. There’s a definite feeling to the euphoria that the world didn’t end on November 3. And what better way to celebrate the victory of what passes for normalcy with a manic stock market rally?

We’re Number One in wealth, income and power inequality, yea for the Fed and the Empire! If we avert our eyes from the electoral battle on the blood-soaked sand of the Coliseum and look behind the screen, we find the powers that matter are not elected: are owned by a few big banks Federal Reserve, run by a handful of technocrats, and the immense National Security State, a.k.a. the Permanent Government.