“And Lewis Carroll thought he was writing fiction.”
And, I’d bet that Orwell didn’t think he was writing a “how-to” manual.
No kidding. We live in a fantastical, dystopic age, do we not? And one of the biggest bubbles of unreality currently exists among the Financial Media.
The majority of business writers and commentators are utterly convinced that happy days are here again, all because a handful of high-frequency computers react to every new influx of Fed-pumped cash by placing millisecond bids on a small number of issues, slowly ratcheting up stock prices along the way.
The worst part is that small investors who've been sitting on the sidelines for two years are starting to come back into this giant Ponzi Scheme, looking to plump up their depleted retirement assets, now that all of the Really Smart People on TV say that Federal debt is meaningless. I do not believe this will end well.