May 21, 2022Liked by The Last Bear Standing

Love me a good biblical reckoning. We've been focusing too long on unreal problems, that the real problems have finally shown up.

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What's life without a biblical reckoning every now and again

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Jun 18, 2022Liked by The Last Bear Standing

"Unearned demand." Very well put. Thousands of pages of analysis and a year of debate on inflation-deflation, when this is the elephant in the room to explain persistent, broad-based inflation. Why? Too many vested interests (mostly politicians) had no incentive to admit this monetary/fiscal overdose. And now, the Fed is compounding the error by popping the asset bubbles it created, and potentially pushing demand back down to meet supply at a lower "equilibrium" (if there is such a thing). In the end, will lower levels of supply and demand spark a crisis in private-sector debt servicing capacity? That may be the next question to explore.

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