by Chris Black
Like everything else in clown world actually.
Let me explain: GDP measures dollars transferred back and forth, producing nothing.
The real GDP of America without all the financial engineering is maybe $4 trillion.
I was alive in 1985 and if you are trying to tell me that we have five times the economic activity of 1985 in 2023, I’ll say you are a lunatic.
On top of that, inflation has already crippled the economy.
You need to be making $50 an hour to barely break into the middle class.
Prior to this near 15 year ludicrous experiment of ZIRP, my kid’s favorite toy cost $9.
The same toy is $25 today and the quality has been halved.
Welcome to mass idiocy, where the world burns and stocks go higher because Skynet doesn’t know any better.
Markets To Yellen: 'F**k Off' t.co/eh6Ngq16wz
— zerohedge (@zerohedge) March 23, 2023