You're onto something but I'd go even further and say that a lot of the economic growth of the last decade has sadly been at least partially fictional. Under any currency but a gold standard backed monetary note...
...haha psyche not gonna start that vs. Anyways, without getting too detailed were starting to run up against a wall of (esse…
You're onto something but I'd go even further and say that a lot of the economic growth of the last decade has sadly been at least partially fictional. Under any currency but a gold standard backed monetary note...
...haha psyche not gonna start that vs. Anyways, without getting too detailed were starting to run up against a wall of (essentially) a zero interest lending rate, multiple rounds of quantitative easing (without the initial bailing out of homeowner and individually held debt that should have transpired but didn't thanks to Rohm Emanuele and Tim Geithner), the true unemployment rate or underemployment rate being marked by the gig economy and multiple part time jobs, super over-valued silicon valley based ponzi-scheme startups, and the devastating after-effects of offshoring and free-trade agreements geared towards capital flight and removing worker protections. The fact that the market averages and index trackers rebounded so massively this year after just the announcement of the fed dumping trillions of dollars into the economy (largely as convertible loans to large corporations; some of them cash-rich, with leverage of up to 4.5 trillion USD at the discretion of treasury dipshit Steve Mnuchin...anyways...) was able to return the basis point count back to pre-pandemic levels, all the while unemployment had soared and productivity had cratered...well the markets just haven't been attached to the material reality of the economy for quite some time. We were headed for a recession long before the pandemic but that's also seemingly been erased from the narrative as well now, but that's a bit out of scope so I'll leave it there.
Note: I'm not blaming Obama specifically, mostly just saying the hand of cards we're all playing now (with a joker as pitboss) was dealt long ago by Democrats and Republicans alike (insert the Sheriff Bell or Anton Chigurh from No Country for Old Men expounding on fate here for dramatic effect).
You're onto something but I'd go even further and say that a lot of the economic growth of the last decade has sadly been at least partially fictional. Under any currency but a gold standard backed monetary note...
...haha psyche not gonna start that vs. Anyways, without getting too detailed were starting to run up against a wall of (essentially) a zero interest lending rate, multiple rounds of quantitative easing (without the initial bailing out of homeowner and individually held debt that should have transpired but didn't thanks to Rohm Emanuele and Tim Geithner), the true unemployment rate or underemployment rate being marked by the gig economy and multiple part time jobs, super over-valued silicon valley based ponzi-scheme startups, and the devastating after-effects of offshoring and free-trade agreements geared towards capital flight and removing worker protections. The fact that the market averages and index trackers rebounded so massively this year after just the announcement of the fed dumping trillions of dollars into the economy (largely as convertible loans to large corporations; some of them cash-rich, with leverage of up to 4.5 trillion USD at the discretion of treasury dipshit Steve Mnuchin...anyways...) was able to return the basis point count back to pre-pandemic levels, all the while unemployment had soared and productivity had cratered...well the markets just haven't been attached to the material reality of the economy for quite some time. We were headed for a recession long before the pandemic but that's also seemingly been erased from the narrative as well now, but that's a bit out of scope so I'll leave it there.
Note: I'm not blaming Obama specifically, mostly just saying the hand of cards we're all playing now (with a joker as pitboss) was dealt long ago by Democrats and Republicans alike (insert the Sheriff Bell or Anton Chigurh from No Country for Old Men expounding on fate here for dramatic effect).