John Wilder's latest is "The Fourth Turning: Things Stay The Same Until They Don’t, or, Markets, Money Printing, and Earthquake Faults" in which he points out the unnatural situation of all this crazy stuff going on but the stock market remains strong and steady. "Wall Street acts like it’s business as usual," he writes. "That’s not resilience. That’s a managed decline wearing a happy face." One of the examples he gives is that BlackRock recently capped money withdrawals from a private credit fund. I guess that is one way to stop a bank run. Read the whole thing.
When the billionaires start to gatekeep themselves . . .
ReplyDeleteI feel like we are living on a knife edge.
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