Risks have reached the all asinine level now. The system is now massively leveraged to a known con man. Bernie Madoff is wondering why he's still in jail when everything he did is now government policy:
To be sure, I did not predict this level of insanity. Pandemic buying opportunities and so forth. Sure, negative rates, Ponzi borrowing, printing money, all of that asinine policy I've said repeatedly would end badly. However, I did not predict that Trump's mega deficit exploding the overnight lending (repo) market last August would become a buying opportunity. A liquidity collapse forced the Fed to monetize the deficit and thus set off an epic end-of-cycle melt-up. All of which was going great into late January, as it appeared that implosion was imminent. But then the Coronavirus struck and China came out with massive stimulus. Which set off the February pandemic rocket ride. RECORD options speculation and record retail trading volumes focused on the riskiest and most overbought stocks. A late stage parabolic blow-off top.
Still, no widespread inkling that maybe this could all end badly.
All of which shows that we can never predict how much more insane this society will become. Nor can we predict how much mass insanity today's lamestream media will rationalize away as normal. They are just along for the ride. Selling ad-sponsored pablum to weak-minded dunces.
This is a feckless society driven solely by appeals to emotion. Facts have become entirely meaningless.
Social media has amplified Borg-like behaviour. Now, today's masses don't take a shit without posting it online to see how many likes they can get. They no longer live in the world of reality, they live in the world of contrived happiness. It's more important to stream pictures of what they are doing, than to experience what they're doing. The posting and streaming of virtual reality has become more important than the real world, which is now just a massive prop stage for everyone's personal reality tv show.
All of this Tech addiction is the perfect conduit for mind control. Instead of making machines more like people, we made people more like machines. Artificial intelligence is rampant. We now have centrally managed economic euthanasia administered by central banks. While the mindless Borg is infotained on iPhones.
Into this con man's paradise walks a well known con man. And yet no one within the vaunted business community asks themselves, what could go wrong? From Gates, to Buffett, to Bezos, to all of the CEOs in between. Nothing wrong with this picture. Along with today's economists, academics, and market pundits, they all have one thing in common: They're all brain dead.
Wall Street now prefers Bernie Sanders over Biden or even Michael Bloomberg, because they believe that their Manchurian Candidate can more easily beat Sanders. Which means they bet the system on a stimulus mega bubble fueled by liquidity collapse, borrowed GDP, global deflation, record low interest rates, trade wars, Twitter bullshit and global pandemic.
This society has no intelligence anymore. It just has the here and now, no sense of the future and no recollection of the past. Instant gratification in every direction. A big, fat, ugly dumbfuck bubble. One that can only end one way - cataclysmic explosion.