The more I go down that #BTC rabbit hole, the more absurd the majority of what we call business news becomes to me. You have 2 consultants on Bl00mbirgĀ bickeringĀ each other with opposing views.
One says the economy will grind to zero and then contract in Q3 going into Q4. The other arguing current economic environment is the new norm, we have bottomed out and expects the economy to "begin" rallying into a new bull market in Q3 going into Q4.
And both sides threw out some indexes and other economic KPI's from their pretty TPS reports that some junior analyst probably spent the prior night putting together for them.
I'm really slow sometimes, but what occurred to me at the end of that segment was, do you know how many of these types of jobs we have in the U.S.?!
The financial services sector used to be a tiny bit of our GDP and today it's a big bit of our GDP.
I personally have nothing against anyone that has a job they like/love. But think about the real & meaningful value a significant portion of this sector brings to the average American household.
The makeup person, the tailor, hair stylist, driver(s), tech support, A/V engineers and the list goes on.
I used to pay attention to this stuff inĀ a serious way. Now it's just pure background entertainment.
So, what's my point, you ask?!
Bro, if/when this Keynesian thing ever cracks/breaks, it's going to hurt households to different degrees, but we are all going to feel that pain.
#RandomThoughts