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The Fed’s “choice” is as illusory as the “wealth” the Fed has created with its perfection of moral hazard. The belief that the Federal Reserve possesses god-like powers and wisdom would be comical if it wasn’t so deeply tragic, for the Fed doesn’t even have a plan, much less wisdom. All the Fed has is an incoherent jumble of expedient, panic-driven “saves” it cobbled together in the 2008-2009 Global Financial Meltdown that it had made inevitable. The irony is the only thing that will still be rich when the whole rotten, corrupt, fragile financial system of illusory stabilit...

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

That the era of stability has ended and a new era of increasingly chaotic volatility has begun is not on anyone's radar as a possibility. The standard debate about the future of the economy is: which will we get, high inflation or a deflationary collapse of defaults and asset bubbles popping? The debate goes round and round in widening circles of complexity as analysts delve into every nuance of the debate. A recent conversation with my friend A.T. raised  a third possibility few seem to consider: increasingly chaotic volatility will be the new normal, as wild swings between inflation and d...