Here is a proposition that can’t be repeated enough:What we have is a tired, beaten-down capitalist economy entering month #110 of the weakest business cycle in modern history; it literally groans under the weight of the central bank policies which have fostered destructive levels of debt, speculation and financial asset inflation.
So they ought to be sweating bullets at both ends of the Acela Corridor. That’s because what comes next is not some miraculous rejuvenation of an octogenarian economy, but it’s ineluctable descent into still another bubble implosion in the casino and the consequent recessionary liquidations of excess labor, inventories and malinvestments on main street, which are otherwise known as a modern-day recession.
Lest anyone forget, here is what happened to workers and inventories during the brutal nine months after the Lehman bankruptcy and related stock market meltdown. In a word, the C-suites went berserk lobbing “restructuring plans” toward Wall Street in hopes of appeasing the angry trading gods and salvaging value for their evaporating stock option packages.