An Apple A Day Keeps The Mullets In Play

With the S&P 500 closing at 3349 today, which is just 1.0% below its all-time high on February 19, we are no longer dealing merely with a liquidity-fueled speculative excess, or even the ultimate case of Greenspan’s infamous “irrational exuberance” of December 1996.

What we have now is a ticking financial time-bomb, the implosion of which will end up making the decade of the 1930s look like a tame version of the 2020s. That’s because when–not if–it crashes, our Keynesian central bankers will be totally discredited, repudiated and reviled, yet the central bank printing press is the only thing that has kept America’s deeply impaired financial and economic arrangements from coming completely unglued.

The heart of this 1929-like Wall Street threat lies in three words: massive multiple inflation. That’s the same thing as accumulated bottled air of such enormous magnitude that Wall Street is literally floating on a combustible cushion of toxic financial ethers. One match and you have the recent Beirut grain silo inferno writ large—from one end of the canyons of Wall Street to the other.



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