by Charles Hugh Smith
Of Two Minds
If we have indeed begun a sustained “reversal of fortune”, it might be prudent to consider the possibility we’re only in the first inning of a sustained run of back luck.
In our self-deluded hubris, we reckon we’ve moved beyond the influence of fortune, a.k.a. Lady Luck: our technologies are so powerful and our monetary policies so godlike that nothing as random as luck could ever crush our limitless expansion.
Thus does hubris beg for a comeuppance: the greater the hubris, the greater the reversal of fortune, the greater the confidence in our godlike powers, the greater the collapse of our prideful faith in technology and economic policies.
So we’ve enshrined our hubris-soaked happy story: the virus will naturally weaken, vaccines will conquer the Covid virus in short order, and by opening the monetary spigots and flooding the global economy with trillions in newly created currencies, we’ll unleash the greatest boom in history, because it’s so righteously “green.”