The distance between Wall Street and Main Street has never been as brutally obvious as it is today. It is simply stunning to watch the cheerleading and casual nature of the economic and financial pundits as they speak esoterically about how policies intended to reduce the U.S. economy are so wonderful.
Seriously, the disconnect in life impact has never been as stark. At least in previous times of economic contraction there was a smidgen of appreciation for the pain that unemployment and rising costs bring to the blue collar and middle-income working class. In this new era, the financial stress and visible outcomes of destroyed families are simply shrugged aside as if these are abstract consequences.
In this segment former Federal Reserve vice-chair Randal Quarles, notes with a casual flippance how the economic policies of the Biden administration are simply doing what needs to be done in order to intentionally reduce the U.S. economy. Sure, massive unemployment, in direct correlation to the scale of the inflation that precedes it, is almost certain, but hey…. the economy must be collapsed if the Build Back Better, Green New Deal, agenda is to be fully implemented. WATCH:
Maybe this flippancy seems starker because those who consider themselves outside the collateral damage impact zone were not visible in prior generations. Perhaps it is because modern technology and the information era allows us to see conversations that were previously only described in print newspapers and journals. Whatever it is, the shameless disconnect between the unaffected rulers and the proles who have to live with the consequences are far more visible today than before.
Smiling while describing a future where working men are emasculated by their inability to support their families. Smiling and shrugging while explaining a landscape where moms are worried about how to feed their children, as the checkbook in the household creates a type of stress these ‘betters’ have likely never experienced, is almost psychotic in its detachment.
Desperation is not a good situation for any society.
Worse yet, laughing in the face of desperation leads to the type of outcomes that eventually hits the ‘betters.’
