Time is too slow for those who wait,
too swift for those who fear,
too long for those who grieve,
too short for those who rejoice,
but for those who love,
time is eternity"

The Central Banks endgame is simple, reinflate the assets of our largest financial institutions, no matter how toxic. This is accomplished by the unprecedented printing of currency, monetization of debt and backstopping all forms of insanity. This strategy has a number of critical flaws, including the misguided assumption that somehow this hot money will flow into areas of need like the proverbial tide that lifts all boats. Nope, much of this liquidity will find a home in the hands of speculators employing trades such as shorting currencies and going long dollar denominated commodities such as oil, grains, et cetera. The point of diminishing returns has quickly arrived as energy and food costs move parabolic, crushing an already struggling consumer, especially in the emerging markets where the procurement of essentials require a much larger percent of their income. The Central Banks have essentially murdered the free market by severely overstepping their mandates, money no longer has a reliable compass to determine risk, we reside in a world economy without a rudder. Attempting to resolve a debt problem with more debt will eventually end badly. We have sadly seen this movie before. The clock is ticking. ---Joe -RE: Bloomberg:: JPMorgan betting on homeowners

In his Funeral Oration, the Athenian statesmen Pericles made this abundantly clear: it is to the city (society) that we owe our freedom and our opportunity to live decent, productive lives. It is in society that we find our happiness, not contemplating ourselves in a narcissistic mirror.

This more or less explains Hollywood. Yes, the Oscars may be an absurd spectacle of remarkably successful people congratulating themselves for work that barely nudges at the borders of meaningful human achievement. But it’s also a celebration of a form of meritocratic capitalism. I’m not talking about the fortunes lavished on extremely good looking people; no, I mean the economic system that compels lots of young people to work extremely hard for little pay so that it’s possible to lavish fortune on the good-looking people. That’s the spirit of meritocratic capitalism! -- || Adam Davidson- NYT