Whenever you see the "we should do this" or "we should do that" in the public media, it is always followed by something that is idiotic or immoral.

Usually both.

The modern era is no exception.

Abolish Billionaires

"It's high time we abolish billionaires" says a serious front-page story in The New York Times. The "rich" are becoming the new villains… the "them" that will rally mobs… and voters… to action:

"… it is an illustration of the political precariousness of billionaires that the idea has since become something like mainline thought on the progressive left…"

And so begins another era; the beginning always comes at the end.

And now, we're ready for it… the next phase of our economic history.

In the present case, we are arriving at the end of a long period of claptrap and chicanery.

For more than 30 years, stock and bond markets have leapt at the sound of the Fed's EZ money trumpet. And now, the money hounds are exhausted and deaf.

And – with barely 250 basis points available to it – the Fed is almost out of breath anyway.

But, unless history comes to a complete stop, this end must also mark a beginning.

What Comes Next

Dear Readers are annoyed when we suggest there is no easy "us vs. them" analysis. They may choose to believe that Mr. Trump is the anti-Christ… or that Ms. Ocasio-Cortez is a she-devil.