So the Economy Now Depends on Stocks Which Depend on Front-Running the Fed–And This Is Fine?

Is an economy based on the wealth effect generated by front-running the front-runners really that stable?

So the entire economy depends on the stock market going up as punters front-run the Fed–and this is not only fine, it’s optimal, the best arrangement the world has ever seen. On which ethereal plane is this considered sane, much less optimal?

That the real-world economy–a neofeudal confection featuring a parasitic, predatory Nobility vacuuming up virtually all the gains of the Everything Bub...