It’s all zero sum.
“But it’s probably different this time, right? China is fine (oh wait, failed auctions and liquidity crisis), Europe is fine (oh wait, Italian banks are collapsing), and the US economy is great (oh wait, automakers are shuttering plants due to credit-created excess inventory).”
Refugees are still making babies in the refugee camps
The military industries are still reducing their old inventories
Governments are still racing to out-print each others money supply
The 10% ‘ers are still in denial. Winter came. Snow came. There is gas in the gas tank.
I can’t outrun the monster chasing us but I’m still not the slowest runner.
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