Nothing to worry about. The rich are making money. What's to worry about? Oh, the rest of us are being fleeced by crony capitalism working with socialist government policies to bail them out? Damn... better ignore the negative, it's not pleasant. It will all work out. Trust in the system!
Yup. We've getting screwed. The government in the US and Canada is bailing out bad financial decisions that were present before COVID-19 arrived on the scene. It's the BlackRock bailout, with bad loans and bonds being purchased to keep bad businesses afloat. And yeah, many of them are part of that money-gambling Wall Street clique.
With ultra low interest rates, money is being printed up like mad and given out for stimulating the economy. COmpanies are buying up their own stocks to inflate their value and give themselves and their stock owners money. And people get in on the FOMO to ride the rising tide. Better not ride it too long or you get stuck holding the bag.
The mains street real economy o actual workers producing things and providing material value to the economy, well that's in the shitter.
That's where the real economy is at. Pretty shocking, especially if you buy into the news and propaganda about how great everything is. But the forced unemployment from governments recently has put a major hurt on the regular working folk. The after effects haven't been felt yet, but they will in the future.
As Bruce Wilds at Advancing Time blog notes:
It is important to remember that it is not uncommon to see a time lag before the impact of events is truly revealed, this is why a lot of people will be surprised and shocked by the reality that is about to unfold. Government programs to prop up the economy can only mask the truth for so long. With the demise of so many small businesses unemployment which has skyrocketed is here to stay.
We are about to see the problems in the other sectors of the economy raising their ugly heads and dish out massive pain. When the temporary props, such as the $600 a week to the unemployed, stimulus checks, the Payroll Protection Program (PPP), and aid to State and local governments, come to an end, look out below. These programs being used to move us forward will not gracefully expire, but merely set the stage for another round of props perpetuating this false economy to evolve. In the end, our future has a way of being tied to reality and certain economic laws as well as laws of nature that hope and delusion cannot defy. While these bonds can be ignored for a time the force they have over us at some point will suddenly pull us crashing to the ground.
That's right. The governments fucked us over, and keeps making the problem bigger. Going back to the previous 2008 financial crisis, instead of letting the reality hit us hard, they government bailed out shit companies and put more debt onto the tax slaves.
The bad business practices got a green light to keep going, as they would be bailed out the next time with the bullshit "too big to fail" mentality. And here we are. Except the deceivers have a nice "COVID-19" cover to blame for their fuck ups that were already known in 2019 before COVID showed up. They have been planning another bailout, and COVID to the rescue to falsely justify it.
Whenever reality is going to hit, it's going to hit hard. The unreal bubble of fantasy has gotten so big, and keeps getting bigger with the infinite money printing. We are in for a big crash. It may take another decade or more, who knows. But at some points, reality catches up and it's going to smack us hard like nothing before.
It is ironic this massive sector of our economy produces nothing but holds such power.
Wall Street is a bunch of money changing gambling leeches who produce nothing. Yet hey, they are too big to fail, we "need" them according to the government. What a crock of shit.