Of Two Minds

The global risk premium has increased dramatically and is increasing in an unpredictable arc. This structural trend of higher risks will reprice everything.

Just because nobody talks about financial serfdom doesn’t mean it’s not real.
Ours is a neofeudal economy of financial serfs in servitude to a Financial Aristocracy.

How often do you see acknowledgements that social defeat and social depression are rampant in America? If you do a search for social defeat, you find hundreds of links to studies of rodents.

By this terminal stage, the competent have been driven out, quit or burned out.
What happens with the competent retire, burn out or opt out?

Now that the US economy is totally dependent on trillions of dollars in stimulus and speculative gains reaped from the stimulus, there is no Real Economy left to pick up the pieces when the credit-stimulus-speculation bubbles all pop.

The net result of these dynamics is official unemployment can soar but employers will still be scrambling to find qualified, willing employees. The labor market is viewed as a sea of fluid workers.