What it all comes down to is, get busy living or get busy dying. Talking about the good old days is no way to live, but it's a great way to get monkey hammered. Again...
What we are witnessing in real-time is the largest theft since George W. Bush did the exact same thing - once again astutely managed by Goldman Sachs and aided and abetted by mentally challenged economists conflating debt with "GDP":
I was a libertarian once, but then I realized that everyone needs help sooner or later, even if it's for a bailout to save capitalism from self-destruction. One that gives apologists for corruption one more decade to warn us off the perils of socialism for the poor, so they could plunder the Treasury one more time to the benefit of the rich. All under the watchful eye of Goldman Sachs reinstated at Treasury. American corruption as usual.
The brainwashed masses never once realizing that we are not the consumer, we are the consumed. Live badly, die badly...
This is going to be a hard lesson, but a good lesson. Those who've been taught their entire lives that they are above assistance, will be the ones who need assistance. Sadly, not everyone gets to see the outcome. Not everyone makes it to the promised land...
The continual question on my mind for the past decade has been: "How the fuck did this happen?". Only through the lens of a demographic time bomb does this all make sense. The denial, the obfuscation, the Japanification. The insanity, the senility, the buffoonery. The incontinence. In every sense of the word.
The "reflationary" bar keeps getting lower, and lower, and lower. Each time, more and more wealth absconded. The wheels came off the bus in August at the end of wave 1 (early August), and wave 3 (late August). Bond shorts have never been more convinced of reflation, despite U.S. macro at an 11 month low this week (payrolls, trade deficit, ISM surveys):
Where am I going with this?
There are only two kinds of people right now: Those who cling to the consumed past while being manifestly consumed.
And those who want to rebuild for the future.
A demographic schism.
In my book on "the way forward", I said that those who eschew the truth because they're wed to the past, will wander the desert of bad ideas for forty years.
I forgot to mention, those are the very people who don't have forty years to waste.
How else are we going to lower the carbon footprint and fix Social Security and Medicare?
Life is simple. But it's not easy.
What are we owed?