At the end of last week the Dow Jones dropped 888 points. This number is a boon to certain numerologists. A boon for the social justice crowd came when the wealthiest 1% lost $182 Billion! instantly.
I see no upside here. The fact is the 2008-2009 recession never ended. The great recovery wasn’t. The commercial banks and a select few corporations were propped up with tens of trillions of new “out of thin air” funny dollars. It bought them a little time – time to grab everything of value they could. The grabbing is frantic now.
The rest of us have little to nothing. There are few high paying jobs. The mighty BRICS are crumpling. The West is teetering. All we’re left with is higher prices, lower pay and the most pathetic assortment of political candidates ever assembled.
Okay, yes, the price of gas is collapsing. That’s positive for now. Only for now, for later it’s a harbinger of ill to come.
This week or next the markets should pep up a bit. But, fall and winter are coming.
What do those lovely candidates have to say about all this? More spending? More funny money? A wall? A wall built with funny money? Remember, while walls can keep foreigners out, they can also keep natives in.
There are solutions to these problems. You will not hear them on Fox, CNN or CNBC. Most people would reject them anyway. We’ve been here before – again and again and again. Einstein’s iron law of insanity.