Of Two Minds

The ideal bagholder is one who adds more on every downturn (buy the dip) and who refuses to sell (diamond hands), holding on for the inevitable Fed-fueled rally to new highs. Old hands on Wall Street have been wary of being bearish for one reason, and no, it’s not the Federal Reserve: the old hands have been waiting for retail–the individual investor– to go all-in stocks.

If America somehow managed to educate millions of college students without burdening them with $2 trillion in debt in 1993, why is it now “impossible” to do so, even as America’s wealth and gross national product (GDP) have both rocketed higher over the past 27 years?

Corporate America sacrificed national interests in service of greed, and so did the U.S. government. As we all know, the source of Corporate America’s unprecedented explosion in profits in the 21st century is the offshoring of manufacturing to China.

Perhaps we should update Marie Antoinette’s famous quip of cluelessness to: “Let them eat space tourism.” As billionaires squander immense resources on self-glorifying space flights, the corporate media is nothing short of worshipful.

So go ahead and say whatever you want around all your networked devices, but don’t be surprised if bad things start happening. I received another “Our Terms Have Changed” email from a Big Tech quasi-monopoly, and for a change I actually read this one. It was a revelation on multiple fronts.

Maintaining the illusion of confidence, permanence and stability serves the interests of those benefiting from the bubbles and those who prefer the safety of the herd, even as the herd thunders toward the precipice. The misconception that collapse is an all or nothing phenomenon is common: