Saturday, October 8, 2016

Fooled By Random Morons

In Ponzi World access to debt is the new 'wealth'...

Most people think that success is warranted and so is failure. They entirely ignore the role of luck, socioeconomic background, fraternity connections, and other sociopathic behaviours...

And hence they've made an ALL IN bet on the status quo...

Globalization suffers from human history's biggest case of 'survivor bias', now featuring 1% of the winners having more wealth than everyone else combined. At that rate, "we" are all essentially losers now, and yet the Globalization "works" narrative is still intact at least among Democrats, RepubliCons, and the CBC aka. lamestream media.

Why is that? It's because when people see someone down on their luck, they assume that it's entirely deserved. They conveniently ignore the fact that under the current economic regime the hardest working people get paid the least. Moreover, they can't imagine anything so drastic as losing a job, missing a payment, foreclosure, divorce, bankruptcy. Voila. It can happen to anyone this side of Bill Gates.

Hedge Funds have gone out of business in the past year at an unprecedented rate. In other words, you can assume that this generation's Ivy League best and brightest for whom working at a hedge fund was the only option, are right now figuring out how to retool a mid-career stock trader's resume into something useful at 1/10th the pay.

Everyone should be on the same page right now, but they're not, because they think the worst of their fellow citizens. That is also why they conveniently threw the anti-Globalization message out with the Trump bathwater. The system is working for them, fuck everyone else.

And that is why they went ALL IN at the end of the cycle.

Because when you think the worst about other people, you can be nothing but surprised when it happens to you.