Poor powerless Fed, poor starving cannibals, poor zombies turning to dust. That's the American economy once the curtains are ripped away.Setting aside the fictional flood of zombie movies for a moment, we find the real-world horror is the cannibalization of our economy, a cannibalization that is now complete. Every organic source of prosperity and productivity has been captured and consumed, hidden behind the convenient curtains of central bank intervention, "market forces" (hahaha), financialization and fiscal stimulus.
All that's left now are zombies feeding off the offal of stimulus. Sadly for the cannibals who've feasted so well for decades, zombies are inedible. So now the cannibals are starving. Poor cannibals! Once the stimulus runs out, no more zombies. Poor zombies!
The cannibals feasted on $50 trillion in earnings stripped from the bones of the workforce ( Trends in Income From 1975 to 2018, RAND Corporation) and trillions more in fraud and financial gimmickry.
And when the cannibals had consumed the bottom 90%, they moved on and devoured the next 5%. That left only the top 5%, which they needed to keep alive to maintain the curtains masking their ghoulish destruction.
But after gorging on trillions for so long, the cannibals appetites can never be sated, so they ambushed their loyal toadies, apologists, lackeys, apparatchiks and sycophants of the top 4.9% and ate them, too, but a bit more stealthily because they still needed an army of toadies to do their dirty work.
The top 4.9% have been transformed into zombies so stealthily they still believe they're in charge and wealthy--hahaha, the jokes on you!
With nobody left to devour, the cannibals turned to their last resort: the Federal Reserve. Please print us up some more bodies to feast on, Federal Reserve. We demand it. We want it, we need it, we're starving.
Alas, the Fed can print currency to inflate speculative bubbles, but it can't print real flesh for the cannibals. All the Fed can do is finance stimulus offal to feed the zombies.
Sorry, cannibals, there's nothing left to consume. There's only inedible zombies kept alive by the Fed. There's some sort of karmic irony in this, it seems: a starving cannibal grabs a staggering zombie corporation to devour and the zombie instantly turns to dust.
The cannibals are starving and their servants in the Fed are powerless to help. All the Fed can do is inflate speculative bubbles that have the appearance of wealth but it's only phantom wealth: there's no flesh to eat, just a bubble that dissipates into air.
Poor powerless Fed, poor starving cannibals, poor zombies turning to dust. That's the American economy once the curtains are ripped away.
Of related interest:
When The Market Has Cancer (6/19/10, by Zeus Y.)
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