OfTwoMinds
The "Wait and See" Economy’s Moment of Truth
The “wait and see” economy is about to face its moment of truth, and one truth is the $1.8 trillion being passed out like candy is already spent. The defining phrase of the U.S. economy for the past year is “wait and see”: every enterprise impacted by the pandemic that didn’t close immediately has been in “wait and see” mode, clinging on to the hope that once the pandemic ends then everything will roar back to life, bigger and better than before.
VIEW POSTToo Busy Frontrunning Inflation, Nobody Sees the Deflationary Tsunami
Those looking up from their “free fish!” frolicking will see the tsunami too late to save themselves. It’s an amazing sight to see the water recede from the bay, and watch the crowd frolic in the shallows, scooping up the flopping fish. In this case, the crowd doing the “so easy to catch, why not grab as much as we can?” scooping is frontrunning inflation, the universally expected result of the Great Reflation Trade.
VIEW POSTThe Global Financial End-Game
The over-indebted, overcapacity global economy an only generate speculative asset bubbles that will implode, destroying the latest round of phantom collateral. For those seeking a summary, here is the global financial endgame in fourteen points:
VIEW POSTWhen Does This Travesty of a Mockery of a Sham Finally Implode?
The mutually reinforcing crises aren’t in the future, they’re here now, and Jay Powell’s shuck-and-jive has lost its magical powers to cloak the rot with speculative bubbles. How many more times do we have to watch Jay Powell claim his speculative bubble isn’t a bubble, and that his massive expansion of billionaires’ fortunes will magically create jobs for all those living in the real world he’s created of stagnation, social depression and inequality?
VIEW POSTAbout That +6.8% GDP Forecast: Remember That GDP = Waste
Any economy stupid enough to rely on the insane distortions of GDP “growth” as its primary measure will richly deserve a Darwin Award when it inevitably collapses in a putrid heap of squandered resources and capital. We’re told the gross domestic product (GDP) measures growth, but what it really measures is waste: capital, labor and resources that are squandered and then mislabeled “growth” for PR purposes.
VIEW POSTWhat "Normal" Are We Returning To? The Depression Nobody Dares Acknowledge
Perhaps we need an honest national dialog about declining expectations, rising inequality, social depression and the failure of the status quo. Even as the chirpy happy-talk of a return to normal floods the airwaves, what nobody dares acknowledge is that “normal” for a rising number of Americans is the social depression of downward mobility and social defeat.
VIEW POSTContributors
Mark E. Jeftovic
Mark is the co-founder of easyDNS and the editor-in-chief of #AxisOfEasy. He is the author of Managing Mission Critical Domains & DNS (Packt UK, 2018) and Unassailable: Protect Yourself from Deplatform Attacks & Cancel Culture.
The Canadian Bitcoiners
Joey Tweets and Len the Lengend are the hosts of The Canadian Bitcoiners Podcast, and you may recognize them as the voices (and faces) behing the AxisOfEasy Podcast. CanadianBitcoiners.com
Charles Hugh Smith
Charles Hugh Smith is the author of numerous books and writes from OfTwoMinds.com.
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