From comments you leave here, I know that there are a good many who share my frustration at, to borrow a phrase from Krugman, "the great unraveling" being played out before our eyes. Like punch drunk prize fighters, we reel from it and rail against its affront to our sensibilities.
How are we to cope with this constant onslaught? Let me share my personal coping mechanism. Yes, this is a turning of the screw but it is also the approach of a breaking point, steadily ratcheting up, that will inevitably lead to a sharp fracture and the demise of the forces that fueled it.
Why am I convinced that lies in our short-term future? Only because it must. The existing order that keeps shoving its noxious face into ours cannot survive without growth. It has no means to generate growth on its own and it is rapidly exhausting its ability to purloin much more from us.
Over the past three decades the few, aided and abetted by their government enablers, have effected the greatest unearned transfer of wealth - from the many - in the history of mankind. Now, as we, the many, have less for them to pillage, they, the few, must become increasingly hostile and aggressive in pursuit of dwindling returns.
As a society, we're encountering an era of inelasticity. The more the screw is turned, the greater the inelasticity. You can only stretch an elastic band so far before it breaks or snaps back. It's one or the other.
And so I have decided that, beginning today, I will digest these outrages under the heading "Turning of the Screw." It really does seem only fitting.