| | | 'global macro markets are like a rubric cube you get one side aligned... and then look at the other 5 sides....which make no sense.....'
The best we can do is one out of six aspects of sanity.
You read the stories of the south seas bubble and you find that even the most intelligent people capitulated. They bought 'knowing' it would not work, but couldn't risk being wrong in the face of so many clowns getting filthy 'rich'.
The trillion dollar coin, the borrow and forgive infinite financing--now you see it now you don't government debt--all these smoke an mirror ideas are not new, they are just restated lies we allow ourselves to be told whenever we get a taste of greed.
(I may have related this before) My best memory of being overcome by greed, if only because it was so squalid and bare bones stark, was watching myself be taken by a couple of carney guys at a game where one threw balls at a matrix with numbers in the squares. Over 25 and you won, under and you lost. These guys were funny at first, they were giving me money or telling me I was ahead, for just standing there, and then I got a taste, and once that happened I found I was playing with my own money. And the count was rigged, and I had accepted that when I was winning, but I couldn't do anything when I was losing, except walk away.....which I couldn't. I wasn't stupid, and I wasn't really greedy, but I was led like a pig to slaughter. They took every dime I had. I thought I was smarter than they were, I likely was. But it was their game, in their yard, and their rules. And my only option was when I walked away loser.
Lots of smart people playing these games today. Lots of fast money seeing who is better than the next.
But I don't think the options are much different.
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