"While everyone enjoys an economic party the long-term costs of a bubble to the economy and society are potentially great. They include a reduction in the long-term saving rate, a seemingly random distribution of wealth, and the diversion of financial human capital into the acquisition of wealth.”
Larry Lindsey, Federal Reserve Governor, FOMC Minutes, September 24, 1996
"As societies grow decadent, the language grows decadent, too. Words are used to disguise, not to illuminate, action...Words are used to confuse, so that at election time people will solemnly vote against their own interests."
Gore Vidal, Imperial America, 2004
"Donald Trump wasn’t actually a successful businessman at all, not in the normal sense anyway. He was an economic magician or, in classic American terms, a con man, who regularly ground business after business — a set of casinos, hotels, an airline, and a series of other endeavors ranging from Trump Steaks to Trump Vodka to Trump University — into the dust of bankruptcy or failure.
What made him such a magician was that, in case after case, his greatest 'business' skill proved to be jumping ship, dollars in hand, leaving those who trusted him, had faith in him, believed in him holding the bag."
Tom Engelhardt, Donald Trump Will Bankrupt America, March 31, 2019
"As a dog returns to its vomit, so a fool returns to his folly."
Proverbs 26:11
"And in some ways, it creates this false illusion that there are people out there looking out for the interest of taxpayers, the checks and balances that are built into the system are operational, when in fact they're not. And what you're going to see and what we are seeing is it'll be a breakdown of those governmental institutions. And you'll see governments that continue to have policies that feed the interests of — and I don't want to get clichéd, but the one percent or the .1 percent — to the detriment of everyone else."
Neil Barofsky, Interview with Bill Moyers, 2012
Mission accomplished!
Let the parades and celebrations begin.
The signs are all there, if you have the will to open your eyes and see them.
Stocks have vaulted back to bubble top highs.
Gold and silver were smashed lower again, along with the Dollar of all things.
Crypto is blooming.
If the world ran on vaporous nonsense, we would have a secure claim to the mother lode.
Breathe deeply of the gasses of our modern oracles.
Let's see how this plays out. Maybe it will be different this time.
Have a pleasant evening.
