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Social media offers hope of achieving higher social status, something that is increasingly out of reach in our winner-take-most economy.I’ve often addressed the decline of social mobility and the addictive nature of social media, for example, Why …

Few appear willing to follow the probabilities of a future in which a vaccine cannot possibly be the “magic cure” everyone wants.Let’s attempt the impossible and set aside all preconceptions we might have about a vaccine for Covid-19, and think it thro…

The self-sustaining recovery is a fantasy that’s evaporated.What looks like a powerful, can’t-lose rally to newbies is recognized as distribution by old hands. In low-volume markets (as in the past few months), insiders holding large pos…

No federal bailout or stimulus can reverse these three dynamics, and no amount of legerdemain can replace the spending of the top 10%.Few of those anxiously seeking a rebound in consumer spending take into account the top 10% of households account for …

Not only is our lifestyle on back-order, so is our sanity.Yesterday I mentioned our collective inability to make sense of the contradictory messages of the status quo and our own experience. This inability to reconcile completely contradictory mes…

The abyss between the Fed’s illusion of phantom wealth for Wall Street and the collapse of Main Street is bottomless, and our descent into the abyss is accelerating.I know this runs counter to every dominant narrative, but a vaccine doesn’t really matt…

The laughably hopeless hope is that by propping up the corpses, the populace will discern some faint flicker of life in the decaying carcasses and return to their free-spending ways.Call it cultural synchronicity, but it increasingly feels like we…

Sclerotic, hidebound institutions optimized for linear stability and permanent growth are simply not designed to adapt to non-linear change and disruption of permanent growth.Since the first news of pandemic in late January, I’ve been discussing potent…

Since human wetware remains stuck in OS1.01, we can predict a remarkable reversal.The “Everything Bubble” has been a sight to behold. With central banks providing trillions to the big players and margin debt enabling small punters to leverage up, …

This is the key dynamic of the economy going forward: defaults on debt, declining wealth as assets are relentlessly repriced lower and sharp declines in income due to layoffs and debt defaults.The economy is like an elephant surrounded by blindfolded e…

What they don’t understand is inequality is America’s Monster Id: the more you try to suppress it, the more powerful it becomes.The word privilege is much bandied about now. I’ve been writing about privilege for many years, and ended up …

As businesses, agencies and organizations recalibrate to the reality that the V-shaped recovery was nothing but a brief fantasy, 6 million additional jobs lost may be a best-case scenario rather than the worst-case scenario.It is somewhat less than rea…

The cognitive dissonance required to ignore the widening gap between the real economy and the fraud’s basic machinery–speculation funded by “money” conjured out of thin air–has reached a level of denial that can only be termed psychotic.When scams st…

The lower reaches of the financial food chain are already dying, and every entity that depended on that layer is doomed.Though under pressure from climate change, the dinosaurs were still dominant 65 million year ago–until the meteor struck, creating …