Of Two Minds

We’re told to stop being so darn negative even as the tsunami of inequality washes away the beach chairs of the bottom 90%.

What the cheerleaders are actually claiming is the process of adding zeroes to “money” is limitless, but there are limits on the utility of devaluing currency, too.

And that’s how democracy and a free economy die.

There are no more “saves” available for the next market meltdown.

The timing of finally embracing risk and sacrifice as the only option left is exquisitely sensitive: finally caving in a moment too late leads to the system collapsing beyond recovery.

Absent demand from tens of millions of wealthy, high-income buyers, asset valuations will fall as Boomers sell off assets to fund their retirement.