The Fed is a Fraud: How to Survive the Coming Financial Reset
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Why is the Federal Reserve considered a 'legalized fraud'?
Pendolino 442 from Vaasa to the right. After the previous stop, Susanna had locked the door. Finally, the old gate opened. One exciting music told of the approaching danger, until a surprising sound interrupted the situation. Next, Tampere. Susanna noticed. It was time to pause the game. We took care of the journey. You decide how you use it. VR. On a joint journey.
supposed to be having things like a smartphone that has a computer, you know, basically in your pocket, a supercomputer in your pocket and nice shoes and access to, you know, an abundance of choices. That's supposed to be luxuries. That's supposed to make you feel like you don't have to worry about money. But the necessities of our life have become so expensive that that if you are in the middle and working class, that you are very likely on that downward slope of the K. You're having a very different experience.
What the is a K-shaped economy? Why is this such a problem? And why are all the smart people that I listen to like this is like the number one thing that's coming out of their mouth? Because I don't know any regular people that know what a K-shaped economy is, but seemingly the really smart people are talking about it a lot. So can you maybe start with just the layman's version of what a K-shaped economy is? And then we can get into why this is something that seemingly is so important right now.
Yeah, I think everybody knows what a K-shaped economy is. They just may not know the term for it, but they're definitely living through it. And if you think about the letter K, right, you've got this divergence. You know, one part of the K is going up and to the right. The other one is sloping down. And so it depends on who you are. That's sort of your economic experience. If you are an asset holder and you have a portfolio and you have a house, you've got a high-paying job, you've actually done very well over the last several years. We keep seeing that inflation and assets taking hold. And so at least on a nominal basis, not adjusted for inflation, but just the number that you see in front of you, it appears like things are going very, very well.
If you are somebody who is not an asset holder or maybe just has a small amount of assets, but primarily you're dealing with the day-to-day cost of living, you're dealing with rent and mortgage, you're dealing with maybe the cost of education, food, travel, whatever else, You're having a very different experience in this economy. Things are not going well. They're just seeming more expensive to you and you're not participating in the inflation of assets piece to offset your feelings about that. And so it's really a struggle and it's kind of a bit of a difficult thing to get our heads wrapped around because supposed to be having things like a smartphone that has a computer, you know, basically in your pocket, a supercomputer in your pocket and nice shoes and access to, you know, an abundance of choices.
That's supposed to be luxuries and that's supposed to make you feel like you don't have to worry about money. But the necessities of our life have become so expensive that if you are in the middle and working class, you're that you are very likely on that downward slope of the K. You're having a very different experience and it's been a struggle. And that has sort of reverberated through political choices, the overall environment, personal balance sheets in terms of the amount of debt that individuals are taking on. And so, you know, you can say things are great or this or that from a very macro standpoint, but you really do have to look at those numbers and realize the experiences of individuals are very different in the economy.
Yeah, it has felt to me like there's a disconnect between the market and real life. Yeah. And this seems to be the disconnect that I find when I'm listening to different individuals who are talking about the economy or whatever. Like, There'll be the word, the market's better than it's ever been. It's gone up. You know, there's 15 different stats that you can quote that make it sound like everything's going great.
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