Ground Zero for the real Covid-19 hysteria in this country this week was Washington DC. In a mere blink of the historical eye, every known rule of financial discipline, prudence and rationality was set aside by both the fiscal and monetary authorities.
The nerve of it is a wonder to behold. The US airline industry has spent a decade shoving itself into harm’s way by strip-mining their balance sheets to fund share buybacks and goose top executive stock options.
That was fast!
What the hell?
Covid-19 and Oil-30 tell you all you need to know about today’s dangerous financial regime of central bank fueled Bubble Finance.
This has happened before, albeit way back at the beginning of time in April 2000 when today’s day traders and robo-machines were still in short pants.
After the last few days it should be pretty obvious that the whole system is haywire. Self-evidently, the Fed is a clear and present danger owing to its essential Keynesian modest operandi. That is, the inflation of massive bubbles and financial malignancies in a misguided effort to goose jobs, spending and GDP, which end up …
The very future of democracy and capitalist prosperity hangs in the balance, and not simply owing to today’s 2000 Dow point bloodbath and the giant Covid-19 pin that has slammed hard upon the world’s bubble-riven financial system.
There is only one word for this morning’s financial charts: REALLY?!