So the markets are booming. Equities are at record highs. So, what? It’s all based on debt. Corporate debt, government debt, personal debt.
Record corporate debt, not raised to do anything worthwhile like making stuff (assuming that is considered worthwhile), but for share buy-backs and increased dividends to shareholders. For what purpose? To make it look like things are still going swimmingly well. Created illusion. Which can go on, for how long?
On this first day of the calendar year, if you follow such things – and it is hard not to if you are in any way tied to the ‘system’, which all of us are to some extent or other – I cannot bring myself (being a realist) to wish anyone, even family, a ‘happy new year’. That is not what it is going to be. In fact, if you hadn’t already noticed, things have been going downhill for some years now. I believe that no-one, still breathing, will be able to fail to notice that by the end of this year.
I can’t, or won’t, elaborate on that. Some elaboration is offered in the Reuters article above, but all of that covers only one aspect of life …and there are many others to also consider.
Edifices get built. Edifices get worn down …or torn down. Just bear it in mind.