Collective Insanity

Off the microphone of RE

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Aired on the Doomstead Diner on August 13, 2014

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Snippet

…I toyed with some other titles for this Rant, like “Collective Stupidity” and “Collective Ignorance” which are both in abundance these days, but as you observe the spin down progress its way around the Globe, as vast as the Stupidity and Ignorance are, both are overwhelmed by sheer INSANITY. There is insanity everywhere you look nowadays. So today’s Rant is on Collective Insanity.

Let’s start with the Stock Market. While millions more Amerikans drop out of the Labor Force every year, the Market levitates to ever more stratospheric heights. The “Smartest Guys in the Room” invest in Dogshit companies like Facepalm and PoopOn that have never turned a profit in their entire existence. Since these guys are Certified Smart with Ph.Ds from MIT, Harvard and the London School of Economics, you can’t attribute this to Stupidity, so it must be Insanity.

Where do the Smartest Guys in the Room GET the money to invest in this Dogshit? From other certified Geniuses like Helicopter Ben Bernanke and his successor, Dammit Janet Smellin Yellin, who seem to think that paying par prices for absolutely worthless collateral with freshly printed FRNs so that the Smart Guys trading have still more Funny Money to play with will somehow get the economy rolling again back to the Holy Grail of Perpetual Growth. Since you can;t have perpetual growth in a finite world, this concept is flawed from the get go, and also here since Helicopter Ben and Dammit Janet are also cetified as smart, stupidity can’t be the answer, so it must be Insanity again…

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