> essentially a way to trade claims on future output. Paper assets now represent 82% of the net worth of households and corporations. And this 82% is the main problem with the US economy because it brings about useless consumption while discouraging savings and productive investments. We are eating our seed corn. Short interest is increasing, and the market is up because shorters like to buy high to sell low. A lot of cattle are gaunt because of the weather or poor quality feed. A lot of investors are already gaunt because of their losses, but going forward a lot more investors will become gaunt. The nifty hundred fifty is the only thing moving indexes up. According to the IRS 85% of the people lose money every year in the market. That means a few institutions are milking the many. Its like milking cows, leave the unit on and suck them dry. As a nation we are grazing on stunted grass and in the process are getting poisoned by prussic acid producing plants because there is no regrowth of shoots allowed. Economic shoots are not allowed to grow in debt free form. Thus every dollar bill out there is a liability of the FED. Absolute power corrupts absolutely.
Securities are >
