Profits Are Out, Speculation Is In In any sane economy, a company hemorrhaging cash would be treated like a sinking ship. But in today’s twisted financial dystopia, these sinking ships are suddenly the hottest ticket on the market. According to recent numbers floating out of Apollo Global Management and parroted by former Pimco CEO Mohamed El-Erian, companies with negative earnings—that’s right, money-losers—are outperforming their profitable counterparts in the Russell 2000. Let that sink in: the more a company bleeds, the more Wall Street bets on it. Welcome to late-stage financial capitalism, where profit is passé and speculation is the new religion. How Central Banks Rigged the Game Why the madness? Because the system’s been rigged to force people—especially retail investors—into…
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