Of Two Minds

Everyone at the trough believes that the transition from liquid water (free flowing credit) to ice cannot possibly happen. So when it happens, everyone will be surprised.

The financial analysts gloating over the prospect of higher corporate profits resulting from firing workers overlook the collapse of customer satisfaction, productivity and leisure.

Part of why AI chatbots are so dreadful is we know the corporation / agency doesn’t care whether our problem gets resolved or not.

Policy errors have consequences, and we’re only in the first inning of those consequences.

What changed in the economy is now nobody can afford to get by on working-class wages because there’s no longer any bargains.

If Central Planning can’t expand its power, it expands its budget, at the expense of its programs.