A modern-day rewriting of Dante’s “Inferno”. Or is it more like Dicken’s “A Christmas Carol”? Some excerpts to whet your appetite.

“We found ourselves before a wide Abyss

From which came moans and cries of great dismay,

The regrets of men who’d been so remiss

As to believe markets will always rise.”

Right. Isn’t that what we are told? That, in the long run, markets will always rise and that if we invest properly, we can retire rich? Praise be the god of money and all it will buy!

“That which goes up must finally come down,

And asset inflation will be retraced.

For growth cannot last indefinitely

When debt is rising and money debased.”

Absolutely true, unless we, in our infinite arrogance and deceit, have somehow managed to break free of the power of gravity and we can forge eternally into the depths of outer space, with no goal in mind and no end to the journey.

“Then came a pair still in matrimony

Bound. They shrieked and fought for they did resent

The ties that held them linked close together

In bitter rage and mutual dissent.

The woman cried, clawing at her tether.

Impoverished, angry, seeking divorce,

And falling for the netherest nether

They plunged to the depths like a Russian bourse.

“New house, new clothes, new car financed with debt

They married for better, but found the worst,”

Said the Master without seeming upset.

“So now, they can’t even afford to split!”

Wow! We have reached a point that we have to remain married to our spouse because we cannot afford a divorce. Even though we fight bitterly with each other and both of us would like to go our separate ways, it is not financially possible to do so. We recognize the truth for what it is…and resent the fact.

Anyway, take it for what it is. A synopsis of Canto II coming tomorrow.