We’re Living In ‘The Groundhog Show’
In which our leaders make the same mistakes over & over.
It’s said that truth mirrors fiction. I’m finding this to be the case more and more these days.
Take the 1993 comedy Groundhog Day. Bill Murray wakes up each day to relieve the exact same daily circumstances and interpersonal interactions. He relives the same day, February 2, over and over again.
No matter what he does, the repetitive cycle won’t break. He goes to sleep, wakes up to his alarm, and it’s the morning of Feb 2 again.
Likewise, in The Truman Show, Jim Carrey lives in a simulated environment where everybody’s an actor in a popular TV show except him. For him, it’s his real life. But although he doesn’t realise it, everything around him is completely scripted and fake.
If merge these two movies together, they perfectly describe the world in which we live today. Welcome to Groundhog Day meets The Truman Show. Let’s call this mash-up The Groundhog Show.
In this composite story you, the plucky central character, wake up every day in a world where the same mistakes are made over and over again by our so-called “leaders”.
Take the central banks, for instance. In this show, they continually blow massive credit bubbles over and over again, which then result in widespread, painful losses when they inevitably burst. And the central planners keep doing this without any indication that they’re aware they’re repeating the same mistakes.
Their learning curve is dead flat. Every day follows the same script as the previous day:
The Fed’s attempts to defeat the business cycle by replacing it with a credit cycle ended badly in 2000 with the horrible Dot-com crash.
Doubling down on that strategy then created the housing bubble and the Great Financial Recession, which resulted in an even worse crisis in 2008.
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