Where is all this money coming from?
It's no fun being a Cassandra. I've been writing about this since 2010 at least, though I quit for awhile because hardly anyone cared. It is rather gratifying in a way that learning how to build a house, grow more food than I can eat, ferment alcohol, play music etc skills might actually carry some weight soon, even as I am well aware of the ramifications more than most, and it grieves my heart.
Good news is, the woke/trans/critical race crowd will be utterly helpless without their GAE backstop, and a lot of those -demons are likely to meet a grisly turn to meet their maker.
So much of this rings true. I wasn't in a place to see the rose of the McMansions, but I saw similar bizarre debt deals being made. And of course, as you say, the deal maker is sotto voice, while God is misinterpreted as something like a failed Robocop, and dismissed alongside debt as imaginary.
All bills will come due, is my bet.
My Enron story. My ex-wife was part of a woman only networking group. Thanks to an incredible year at my company I recieved a bonus equal to 1/3 of my salary. My ex-wife proposed that we invest in the stock market with the help of an investment expert she had met at her networking group. I (foolishly) agreed. The woman sat down with us and said, "given your ages, risk tolerances, and investment goals I recommend you put your money into three companies, Enron, Worldcom, and Tyco."
I'm assuming everyone reading this knows what happened. It was an expensive lesson.
Fortunately, I remarried, and Lisa thinks we might want to invest in more land to grow food. My kinda gal.
So here's a fun little fact: one of the prosecutors in the Arthur Andersen, LLP case was none other than Andrew Weissman--of Mueller Report fame. Andersen, then one of the largest accounting/auditing firms in the world, was indicted and convicted of obstruction of justice, nominally for shredding documents. Well, here's the thing: that conviction was reversed by a unanimous Supreme Court, which held that a defendant cannot be convicted of obstruction of justice without some conscious awareness of wrongdoing connected to a particular proceeding. Turns out the documents in question may well have been shredded in keeping with Anderson's blanket document retention policies. But Weissman and the rest of the prosecutorial team convinced the trial judge to modify the jury instructions such that the jury could convict without any need for corrupt motive.
This became a hallmark of prosecutorial overreach. Precisely the sort of overreach that would mark the rest of Weissman's career at DoJ. . . .
This needed saying, thanks.
One small and funny observation is that Jim Cramer is wrong so often, and tends to align with the market peak right before a crash, that there's no way his mistakes are accidental — he is getting paid by insiders to pump stocks so that the public can provide their exit liquidity, so then the insiders dump and offload their stock onto the naive public.
This strategy gets diminishing returns, but it's pretty hilarious to see someone pick so many losers while keeping their job.