1. Money velocity has cratered. (see chart #3 below)

2. Federal borrowing / spending has skyrocketed, pushing federal debt to unprecedented levels. (see chart #4 below)

3. Speculation has reached the society-wide mania level. This is evidenced by record margin debt levels, record levels of financial assets compared to GDP and many other indicators. (see chart #5 below)

1. Stagnating real wages (i.e. adjusted for real-world inflation): check

2. Overproduction of parasitic elites: double-triple check

3. Deterioration of central state finances: check

Here are four long-term trends that may have been accelerated by the pandemic:

Here’s a typical observation of a resident in Hawaii now that tourists are coming back:

Sunday I saw a group of 30 spring break tourists littering the beach with red cups
and bottles of alcohol and trash. They had a table full of booze on the beach and were happily leaving their trash everywhere. No masks and no cares for Hawaii. When they left, instead of using the beach access they all climbed over the fence into someone’s yard because it saved them a minute of walking.

This is a global phenomenon. The absence of tourists has awakened a powerful sense that the profits (which flow into elite hands, not local economies) have taken precedence over the protection of what makes the destination worth visiting.

2. Work from home is here to stay. The benefits are too personal and powerful. Corporations demanding a return to long commutes and central offices will find their most productive employees are giving them “take this job and shove it” notices as they find positions with companies that understand that you can’t turn back the clock or ignore the benefits of flexible schedules.

4. Perceptions of the wealthy are changing. I touched on this topic in

The Coming War on Wealth and the Wealthy (1/5/21) and The Coming Revolt of the Middle Class (1/27/21). Inequality is America’s Monster Id, and we’re continuing to fuel its future rampage daily.