The U.S. Business Cycle Was Utterly Co-Opted

Everyone who sold the bubble has been
getting 0% on the full proceeds, and, if
they've not bought the bubble back from
the banks, that had 0%/QE instead of
S & L / Resolution Trust, so that their
losing collateral could be market insulated,
while their mortgage backed securities were
bought by the Fed not at market value, and
then their underlying properties could be
converted to rentals held by affiliates,
can only imagine what their rent, annualized,
would be worth, clearing assets not
market insulated, and allowed to
pass from bad decision makers to good ones,
at an unshafted market clearing price point.

The U.S. has not stopped relentlessly
lavishly rewarding bad decision making at
the spectacular expense of good decision

But, the people they keep rewarding nonetheless
appear on TV often. And, sometimes, they're
called alpha.

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