Of Two Minds

The abyss between the Fed’s illusion of phantom wealth for Wall Street and the collapse of Main Street is bottomless, and our descent into the abyss is accelerating.I know this runs counter to every dominant narrative, but a vaccine doesn’t really matt…

The laughably hopeless hope is that by propping up the corpses, the populace will discern some faint flicker of life in the decaying carcasses and return to their free-spending ways.Call it cultural synchronicity, but it increasingly feels like we…

Sclerotic, hidebound institutions optimized for linear stability and permanent growth are simply not designed to adapt to non-linear change and disruption of permanent growth.Since the first news of pandemic in late January, I’ve been discussing potent…

Since human wetware remains stuck in OS1.01, we can predict a remarkable reversal.The “Everything Bubble” has been a sight to behold. With central banks providing trillions to the big players and margin debt enabling small punters to leverage up, …

This is the key dynamic of the economy going forward: defaults on debt, declining wealth as assets are relentlessly repriced lower and sharp declines in income due to layoffs and debt defaults.The economy is like an elephant surrounded by blindfolded e…

What they don’t understand is inequality is America’s Monster Id: the more you try to suppress it, the more powerful it becomes.The word privilege is much bandied about now. I’ve been writing about privilege for many years, and ended up …