Thread by @gbponz

Eric, we've been through a decade of easy money, finance centric solutions of 2008 which was the key to the deindustrialization of the west. Now to some extent is better and to some is worse.(/)

https://twitter.com/eshow1969/status/1634364119255076864

The better part is that goods producing companies have NEVER returned to the blind trust in the banking system they had before. Less leverage, and slamming the door in bank salesmen's faces helped. (/)

Of course there is a whole section of equities which are more financial than Casino chips, but with #Zirp and #NIRP that couldn't be helped. I am not so pessimistic about the industrial base in the #US (#Europe is a different Bedlam). (/)

Where I am worried is the political aspect. Quality of the sorry lot is abysmal, even by 2008 poor standard... and not only their livelihood depends on keeping the Circus going the same way: most sane solutions DON'T allot spots in which they could recycle themselves.(/)

On top of that, on many issues which need resolving they face this dilemma:
1. Go legit, admit you lied all along, pay whatever price but still prove you are intelligent, if ruthless toward the gullible;
2. Go all in, be proven wrong by the crisis, and don the dunce cap.(/)

On 2. I can't assess how many are REALLY that unable to process information that they ACTUALLY drank their own Koolaid. At this point, my hunch is .. a majority of them. They simply don't know enough.(/)

Also, I don't need to tell you how intricately cruel people who have been preyed upon can be. There's no peace treaty, or forgiveness.
@ektrit @maphumanintent @AlessandroPonz4 @RobertMCutler @BaldingsWorld @GemmaTognini @GrayConnolly @CaroDiRusso @INArteCarloDoss