Of Two Minds

There would be some deliciously karmic justice in the “dumb money” driving a rally that forced the “smart money” to cover their shorts and chase the rally that shouldn’t even be happening. Being cursed with contrarianism, as soon as a trade gets crowded and the consensus is one way, I start looking for whatever is considered so unlikely that it’s essentially “impossible.”

Workers are voting with their feet, and that’s difficult to control. When values and expectations change, everything else eventually changes, too. What happens when the workforce no longer wants to work? We’re about to find out.

Every individual and entity seeking to maximize their private gain by prostituting themselves to the government is, well, prostituting themselves to the government. The free-money PPP “loan” obtained by a prostitute frequented by Hunter Biden offers a vividly teachable insight into American capitalism:

If there was only one causal factor nudging the economy into recession, it might be a mild, brief recession. But with all five conditions in confluence, this recession will be unlike any other. Recessions reliably arise from the confluence of these conditions. Note that any one condition can trigger a recession, but no one condition guarantees a recession. Severe, long-lasting recessions occur when multiple conditions arise at the same time.

For everyone left out of the Fed’s hyper-financialized, hyper-globalized, hyper-inequality “new prosperity,” there’s always the bargain salmon cassarole. The latest issue of New Prosperity Magazine addresses the Fed’s “Goldilocks” inflation and the coming crack-up boom.

The more kafkaesque quagmires you’ve slogged through, the more you hope “pay-to-play for the rest of us” becomes ubiquitous. You know how “pay-to-play” works: contribute a couple of million dollars to key political players, and then get your tax break, subsidy, no-bid contract, etc., slipped into some nook or cranny of the legislative process that few (if any) will notice because the legislation is hundreds of pages long or a “gut and replace” magic wand was wielded at the last minute.