We are benefiting at the expense of our children.
A lot of scams.
“The lesson from 'The Boy Who Cried Wolf' was
never intended to be that there are no wolves.”
A very old comment on Zerohedge
In "The Emperor's New Clothes", the child who pointed out that the Emperor was naked wasn't suddenly right, like a stopped clock. He was always right.
Dell has been in the news lately. I remember Dell from the first time around.
“Economic conditions are still supportive of higher strong financial markets, and part of that is government policy, right? There are just a lot of policies in place that are basically tailwinds for financial assets, and they don't necessarily help the consumer.”
“The top 10% of Americans held 93% of all stocks, the highest level ever recorded.”
“49% believe that unemployment is at a 50-year high, though the unemployment rate has been under 4%, a near 50-year low.”
- Harris Poll, September 2023
Is it possible that something is very wrong with how we measure unemployment?
As an aside, the economy was already in recession (the NBER later determined) when Bernanke said in January 2008: “The Federal Reserve is not currently forecasting a recession.”
Here’s some random reading for Friday. I will probably do another post on several very thought-provoking podcasts I’ve listened to in the past week or so. Have a great weekend.
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