In case you want to get a sense of the insanity that has struck the area, look no further than the billboard below which is prominently (and expensively) displayed in various venues of Bay Area highways………(fun fact: the very first web designer I hired for the Prophet web site, back in the late 1990s, was none other than Jason Fried, who went on to create Ruby on Rails!)
One of my favorite cartoons of all time is this simple beauty from Roz Chast:
It seems clear that the world has three new certainties, which I believe are as follows:
- Apple (AAPL) will hit a new lifetime high each trading day;
- The Japanese Yen (FXY) will be at a new low each trading day;
- Any market weakness will be reversed by a few off-the-cuff words from a Fed member.
In future years, when historians try to ascertain why on earth the massive middle class of the United States (and other industrialized nations) willingly allowed itself to be completely hollowed out so that the rich could become uber-rich, they need look no farther than this video. The simple fact is that what’s going on around us is fairly complex (most Slopers are pretty sharp, and it’s tough for many of them – – – for me, at least – – to really comprehend all the moving parts). And the video below represents the mentality of most Americans; indeed, that is probably a generous assessment, since this woman has actually achieved a level of fame and fortune in her 20s. So she’s probably rather above-average compared to other fellow citizens. Watch the video. Please. (more…)