by John Rubino
For the past 50 or so years, the quickest way for a sharp young sociopath to get rich has been to join an investment bank or hedge fund. The former were riding a “regulatory capture” gravy train that became ever-more-lucrative as new government agencies morphed into subsidiaries of Wall Street. Hedge funds, meanwhile, were surfing the wave of easy money that inevitably results from putting banks in charge of interest rates and government spending.
Said another way, when financial assets are being artificially inflated by excessive liquidity, it’s easy to make money by shuffling this ever-appreciating inventory back and forth, and to look very smart while doing so.
But those days are ending with a bang. Consider: