In this week's Off the Cuff podcast, Chris and Mish discuss:
- Sanity on Syria?
- The rush to war may be slowing down
- Markets a-bubblin'
- Irrational valuations everywhere
- Japan's woes
- Bug, meet windshield
- The disability disaster
- The new – permanent – form of welfare
This week, Chris and Mish look at the sorry cards on the table and wonder why anyone wants to play this game.
Stock market valuations are back to non-sensical levels. Even members of the Fed are beginning to admit that their liquidity policies are creating an ongoing stream of asset valuation bubbles.
Meanwhile, Japan continues to show us the future we can expect if we continue down this path. Fighting insolvency with liquidity just does not work. Gregor Macdonald's recent report explains this well.
Not that the U.S. is paying attention. In addition to its continued liquidity binge, it is adding ~ 250,000 people per month to its disability program. Disability is like welfare without the intended pathway back to gainful employment. It has become a trap that once people get on, they never get off.
by quercus-bicolor-2 
