We are experiencing the greatest transfer of wealth in the history of mankind. Ben and Co. may be overpaying for mortgages and such, but the truth is the banks and the government will soon own everything.
And if the system collapses? That will just strengthen their hold on things and guarantee they will own even more. Panics and disorder have always been a pretense to embolden the powerful. The dollar may become worthless but the owner of the foreclosed properties, residential, commercial and industrial from north to south to east to west will not be you and I. It will be owned by the US Government and they stopped working for "We the People" a long time ago.
So sadly its a "lose-lose" situation for us. We will either be forced to "pay to play" and get with the program or be shut out of the system. Most Americans know this in their hearts. When confronted with the choice of living a life under the heavy thumb of bureaucrats, or being locked out of the system, they will invariably choose to be under the thumb. And in a panic we will give them all of it.
As Benjamin Franklin once said, "People will give their liberty in exchange for short term security. And in the end they will have neither". This is very real and is sadly inevitable.
In Elliott Wave terms, America was founded at the beginning of a Grand Supercycle wave [III] and prospered and grew during its entire existence. Now at the end of this grand wave of progress, we desperately gamble trying to get our little slice of the pie. We sacrifice our liberty because we take it for granted. Its slow erosion is imperceptible until one day you wake up and you find you really are beholden to the system in every way, shape, and form.
No the Fed is not stupid at all. They may have a lot of overvalued deeds, but they are deeds on real places and real property nonetheless. Indeed if they must be landlords to the nation, then by golly, they will do it in the best interest for "We the People" and maybe even throw in free sewer.
I really do fear systemic collapse, because I know whats coming; Fascism and totalitarianism, American style. Haven't we already seen the precursors? The opening stages? The takeover of the Auto, Insurance, Mortgage, Banking, Education, Media, and now they want the last slice of the pie, your health?
And the king of it all: They want to control your very living being through taxing your carbon output and the very air you breathe. And even if its all a damned pack of lies they will jam it down your throat like some forced religious conversion.
And all the damned lies. The blatant corruption. The crony system. Its not even "good" graft anymore, its just outright theft. And they couldn't just steal a little they know no bounds! Oh yes, social mood is turning sour. It cannot be stopped and everything the government and the banks and the CEO's do will just exacerbate.
If and when it all comes crumbling down, then I hope all the rage of a Grand Supercycle bear wave results in people standing up with great courage and fighting not just for their own little slice of the pie begging from our bureaucratic Overlords, but fighting for liberty itself.
Either the Great Bear wave will enslave us or free us.
History suggests we will choose bondage. But glory to those that have the courage to choose liberty.