So now that the illusion of infinite growth is being exposed, the corresponding ballooning entitlements that enticed the larger public to become complicit in the illusion are becoming unglued.
Charles Hugh SmithHumans are wired to feel uncomfortable with uncertainty and contingency, and so we gravitate to a position after a short time even if we have no new information.
Charles Hugh SmithOne of the dirty little secrets of the stock market rally is that the rising corporate profits that powered it are largely phantom profits. They are artifacts of currency devaluation, not an increase in efficiency or production of goods and services.
Charles Hugh Smith