mr smith sums up quickly why we won't be returning to anything called 'normal' and its coming on fast;

December 7, 2020

Sorry Fed, it's too late. The dominoes are already toppling, and every point of failure is being exploited by the catalyzing effects of Covid.

America's many points of failure--leverage points where a break brings down the entire system--are falling like dominoes, a process catalyzed by Covid. These systemic points of failure have been masked for the past 20 years by the widespread distribution of trillions of dollars, either printed or borrowed.

There's no point of failure that can't be glued together or covered up a bit longer with fountains of cash. That's the American way of solving problems: just throw more money at it.

Unfortunately for America, substituting borrowed trillions for real problem-solving generates its own set of problems, problems that increase the system's vulnerability to collapse. Healthcare / sickcare is a leading example of this: as the corruption, pay-to-play and profiteering deepened, the federal government's endless borrowed trillions boosted healthcare / sickcare from 5% of the nation's economy to roughly 20% today.

Covid Is Revealing the Cancerous Underbelly of U.S. Healthcare.

As I've noted for a decade, this has created an enormous fragility: healthcare is now so immense that it will bankrupt the nation all by itself. (see charts below) Once the corrupt, pay-to-play, profiteering sectors such as healthcare and banking become "too big to fail," then the Federal Reserve and Treasury are obliged to bail them out or continue funding their spiraling-out-of-control demands.

Speaking of "too big to fail," look at the voracious monster the Fed's endless monetary goosing has incentivized--a financial system addicted to Fed "free money," soaring debt, accelerating leverage and near-infinite speculation.........read more...