A massive plunge on the Dow, S&P and the Nasdaq this morning highlights the instability of a market drenched in a decade of quantitive easing and the debt hangover that has left us with.
The reckoning has been building for some time and Trump’s irresponsible corporate tax cuts alongside his trade war and his general incompetence have only exacerbated this. What we are seeing today is just the market waking up to the enormity of what rising rates will do to an economy that has spent a decade gorging on cheap debt. What will be the ultimate trigger be to a major meltdown is still moot, Iran, Italy, Brexit or China are all possibilities.
Add in the far more dangerous reality that we have only a decade left to stop catastrophic climate change, and the problems outweigh the positives.
We are left rudderless by events and visionless because our own media simply don’t have the capacity to highlight the truth to us.
The real problem for light entertainment current affairs shows like Seven Sharp & The Project is that their low quality prattle can’t give insight or critical debate to fundamental issues like Climate Change or the looming economic depression.
Events will ultimately outrun our media’s vapidness the same way it will outrun our political spectrums ability to respond radically enough to both problems.
Sometimes the truth is things need to break or snap because of their own weakness before change can truly happen.