This Titanic has unstoppable inertia. The global Idiocracy has pushed this clusterfuck to '11'. All we can do is stand back and try not to get sprayed with flying body parts.
The latest parlour game consists of figuring out why Milton Friedman's purported solution for the Great Depression - i.e. monetary expansion - is not working in (this) Bernankenstein's Great Recession (aka. post-2008). It's an interesting tale chock full of competing Econo-dunce theories, all of which will be recycled into 4-ply and used for ass wipe when this latest fiasco is over.
In a Good Recession billionaire wealth doubles. In a Great Recession it triples.
Never once does it occur to the theoreticians that our so-called recession resembles nothing of the Great Depression. The key and all-important distinction being that during the Depression of the 1930s, the debt got liquidated en masse. Whereas, aside from subprime, most of today's massive debt remains on the books. In today's asinine scenario, the borrowers are bailing out the lenders by borrowing more fucking money. Does that sound like a Depression? We're surrounded by total fucking morons. Today's country club dunces think that flying coach is a modern day Depression.
Betting It All On Another Bailout
And the fundamental reason that these gamblers continue to buy their stocks, and their junk bonds, and their McMansions with total impunity, is because they just blithely assume that the outsourced Middle Class will pony up for another bailout. They assume that once markets go into free-fall a la Lehman, that Aunt Bee aka. Janet Yellen, will be able to put this disaster back together as it's exploding apart in fifty million pieces. And that Congress will be able to ram another TARP down taxpayers throats even though the last one barely made it through. Actually, it failed in the first vote and then was voted through a week later.
And the fundamental reason that these gamblers continue to buy their stocks, and their junk bonds, and their McMansions with total impunity, is because they just blithely assume that the outsourced Middle Class will pony up for another bailout. They assume that once markets go into free-fall a la Lehman, that Aunt Bee aka. Janet Yellen, will be able to put this disaster back together as it's exploding apart in fifty million pieces. And that Congress will be able to ram another TARP down taxpayers throats even though the last one barely made it through. Actually, it failed in the first vote and then was voted through a week later.
Blind faith in another bailout. That is the fundamental difference between fantasy and reality. Fantastic Recession and Great Depression.
