THE CENTER CANNOT HOLD: WALL STREET CHEERS WHILE THE HOUSE BURNS The markets may be rallying, but make no mistake: what we’re witnessing isn’t a recovery—it’s a delusion dressed in digits. On May 7, 2025, as the Federal Reserve kept interest rates frozen in the face of a stagflationary inferno, the financial class applauded with Pavlovian glee. The Dow shot up 285 points; the NASDAQ tagged along. But beneath the surface of that short-lived optimism lies the rot of a system on life support. Fed Chair Jerome Powell—America’s chief arsonist in a three-piece suit—refused to signal rate cuts, a move that sent shivers through the debt-ridden underbelly of the U.S. economy. Meanwhile, the cost of existing—housing, healthcare, car insurance, groceries—continues…

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