. . .
K “From my vantage point out my Overton Window, matters still look far more dark and ominous than light and optimistic. The economy is on final approach with flaps flapping and landing gear up on course for a very hard landing.”
J “It is dark, it is very dark, but they manage to avoid crashing.”
. . .
K “True inflation is much higher than acknowledged by those in power and is only going to go higher because of the lag effect of the rate hikes; even the coming recession will not drive down the cost of necessities for the over-extended consumer who may not be able to drive up the economy any longer. Fuel prices are going to move up. Multiple interrelated sovereign debt crises loom on the horizon. The stock market is basically seven companies with anemic price/earnings ratios propping up dozens of indexes and funds; many other unprofitable companies are unable or soon will be unable even to finance and extend their maturing debts. Commercial real estate is set to collapse in a pile of rubble and rebar. The Exchange Traded Funds (ETFs) may not to be undergirded with any collateral; they are Ephemeral Traded Funds. And then the gazillion dollars of derivatives could unfurl and unfold in a cataclysmic and cosmic collapse. And then there is the slow fuse burn of de-dollarization which ultimately will render the United States a second world country.”
J “It is profoundly unhealthy for one to aggregate everything that is going on all at once. No one understands. No one cares. Everyone is cranky. Everyone is angry. The population may pop.”
K “There is that.”
. . .
K “The fissures have not fused. The fractures have further fractured. I just do not see how the economy sustains.”
J “They will resiliently kick the can down the pot-holed highway.”
. . .
J “Failure to pass some manner of continuing resolution could be a trigger. They will do something at the last minute.”
K “There will come a time when they do not do something critical in a timely manner or there is nothing that can be done.”
. . .
K “Does it strike you as ironic to bandy around the words ‘sustainable’ and ‘resilient’ to describe an economy that is hollow and shallow?”
J “One must maintain a wry sense of humor.”
. . .
J “Rake the leaves.”
K “One last mowing.”
. . .
[See the e-commentary at What Is With Our Friend Sweden And Our Friends The Swedes? The Swedish Central Bankers Reward One Of Their Criminal Home Boys: Bernanke. The “Real” Nobel For Peace (War?) Rewards Hypocrisy And Dishonesty. The Nord Stream Pipeline Terrorism Investigation Is Dodgy. (October 24, 2022) and Spoiler Alert: Yup, Uncle Sam Did It . . . Or At Least Approved It (March 6, 2023).]
Bumper stickers of the week:
Boogie ‘til ya puke
September 26 – anniversary of the unprovoked USA-approved international terrorist attack on the Nord Stream pipelines
e-commentary 