2008 was the wake up call. Borrowing yet more money from Third World factory slaves after 2008 was the biggest mistake our generation will ever make.
Opportunistically exploiting other peoples' economic oppression, under the assumption that "it can't happen to me", is the Faustian Assumption.
Bungee Jumping With A Noose
Central Banks' zero percent interest rate policy was explicitly intended to incentivize people to put their money at risk, which the gamblers did all over again. Ironically, five years of accumulated and ignored risk later, it's too late for collective realization of risk, because widespread realization will bring panic collapse. The trap is set, and the masses themselves are the trigger. The money is already gone, replaced merely by extreme levels of counter-party risk, so we are just waiting for history's largest boatload of dumbfucks to realize it. I mean, how do you get people who are stoned, to realize that the house is on fire? It's no wonder this is taking so long.
A year ago, Cyprus, a country of one million people, held global financial markets on edge for days. So we are one geopolitical event, one bank failure, one sovereign default or one flash crash, away from the Minsky Moment.
Fool Me Three Times, Shame On Me
All of this, for this:
The Inflation Adjusted Dow
Now 3% higher than it was fifteen years ago. What a joke.
That middle a-b-c was the Bush "Con", this will be known as the Obama "Con"
However, the outcome from this phony wave will be somewhat "different"...
