Of Two Minds

Those few who grasp the crisis in its entirety have been marginalized, and those who are left are drifting downstream, unable to move the mass of self-interested inertia even if they wanted to.

The system has reached the limits of its adaptability. Everything else is entertainment.

Loss of social trust has consequences.

If we want social / economic renewal, we have to make it straightforward for anyone willing to adopt the values and habits of “thrift, prudence, negotiation, and hard work” to climb the ladder to middle class security.

This raises another question: how will the deflation of the Everything Bubble play out?

Is an economy based on the wealth effect generated by front-running the front-runners really that stable?