Buy the All Time High | James Howard Kunstler
James Howard Kunstler -- World News Trust
Nov. 25, 2014
Wall Street is only one of several financial roach motels in what has become a giant slum of a global economy.
Notional money scuttles in for safety and nourishment, but may never get out alive. Tom Friedman of The New York Times really put one over on the soft-headed American public when he declared in a string of books that the global economy was a permanent installation in the human condition. What were seeing out there these days is the basic operating system of that economy trying to shake itself to pieces.
The reason it has to try so hard is that the various players in the global economy game have constructed an armature of falsehood to hold it in place -- for instance the pipeline of central bank liquidity creation that pretends to be capital propping up markets. It would be most accurate to call it fake wealth. It is not liquid at all but rather gaseous, and that is why it tends to blow bubbles in the places to which it flows. When the bubbles pop, the gas will tend to escape quickly and dramatically, and the ground will be littered with the pathetic broken balloons of so many hopes and dreams.
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