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The Wile E. Coyote Recession
Authored by Charles Hugh Smith via OfTwoMinds blog,
So where are corporate profits going to come from as globalization, price-gouging, planned obsolescence, shrinkflation and immiseration run out of rope?
We all know there's a time lag between the moment Wile E. Coyote runs off the cliff at full speed and the moment he realizes there's nothing but thin air beneath his feet. His expression in the second before he begins his descent communicates surprise, fear and a woeful awareness of impending impact with unforgiving ground.
This is an apt description of the present moment. The economy has already run off the cliff, but we haven't yet experienced that second of realization that there's nothing but thin air below.