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Housing Bubble #2: Ready To Pop?
zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
09Jul2021 Market Close: DOW Records Closing High +448 Points, Nasdaq +1 0%, WTI Crude Higher 74 63, US Dollar Down Fractionally 92 10, Short Week Ends On A Positive Note
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A Few Things About Reinforced Concrete High-Rise Condos – Investment Watch
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05Jul2021 Closed-Market Commentary: Wall Street Closed For Independence Day Holiday, DOW Futures Up 18 Points, Nasdaq - 0 1%, SP 500 Flat -0 04%, WTI Higher 75 45, Bitcoin 33500
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The Systemic Risk No One Sees (Unraveling Of Social Cohesion)
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The unraveling of social cohesion has consequences. Once social cohesion unravels, the nation unravels.
My recent posts have focused on the systemic financial risks created by Federal Reserve policies that have elevated moral hazard (risks can be taken without consequence) and speculation to levels so extreme that they threaten the stability of the entire financial system.
These risks are well known, though largely ignored in the current speculative frenzy.
But there is another systemic risk which few if any see: the collapse of social cohesion.
President Carter was prescient in his understanding that a nation’s greatest strength is its social cohesion, a cohesion that America’s unprecedented wealth / income / power inequalities has undermined. Consider this excerpt from his 1981 Farewell Address: