USA - Stocks just closed at a brand new all-time record high, ‘Avengers: Endgame’ is coming to theaters, and a 24-year-old man from Wisconsin just won the 768 million dollar Powerball jackpot. If those are the top headlines today, then everything must be good in ‘Murica at the moment, right? Of course that is not true at all, but as far as the stock market is concerned we must give credit where credit is due. Our financial engineers have created the largest stock market bubble in all of US history, and we should all be hoping that it lasts for as long as possible. Because once this financial bubble is destroyed, the aftermath is going to be truly horrible for the entire country.
Up to this point in the year, the stock market is off to the best start that we have seen since 1987. Of course we all remember what happened toward the end of 1987. Our largest corporations are going hundreds of billions of dollars in debt to pump up their own stock prices. It is a Ponzi scheme of epic proportions, and when things start to go bad there is going to be a race to bankruptcy court. But for the moment the Ponzi scheme continues, and a lot of people are becoming exceedingly wealthy as a result.
For average Americans, it is absolutely imperative to remember that the stock market is not the economy. Yes, the stock market has been soaring, but the US economy has not had a full year of 3 percent growth since the middle of the Bush administration. This has been the longest stretch of sub-three percent economic growth in our history by a very wide margin, and now all of the numbers are telling us that economic activity is slowing down once again.
Instead of partying, most people should be using this time to prepare for what is ahead, but we know that is simply not going to happen.