Of Two Minds

This is how bubbles collapse: the “vital few” 4% sell at whatever the market will bear, pushing prices down, and the 64% awaken to the rapidly narrowing window for locking in bubble capital gains.

This concentration of housing ownership by the wealthy is the direct result of Federal Reserve and federal policies that benefit the wealthy.

So hey, central bank cheerleaders, lackeys, toadies, apologists, apparatchiks and sycophants: no, the central banks aren’t going to “save” your precious asset bubbles from popping.

Unexpected things tend to happen when the real source of problems are papered over and then suddenly reality intrudes.

Isn’t AI just a shoddy facsimile of authentic expertise that “serves the state and the media” in a new theater of Spectacle?

After all, “they can always print more money.” That’s always the solution until it becomes the problem.