So when do people start walking away? https://twitter.com/exjon/status/1101938851809906688 … ...
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Outsideness Retweeted jon gabriel
So when do people start walking away? https://twitter.com/exjon/status/1101938851809906688 … ...
Outsideness added,
So what’s gonna happen? I have joined the rest of the dissident right in the “deficits don’t matter” camp. This isn’t exactly Krugman but more “we have bigger fish to fry like immigration” + “monetary policy always worms us out of it anyway, it will NEVER be Weimar unfortunately”
Basically what I’m asking Nick: is there still any economic law of gravity at work or has our central banking become so sophisticated we’ll all be dead before “the collapse” under the weight of the debt? That they’ll finagle a way around it essentially forever & ever.
This question is too weird and complicated to rush. @thespandrell has some interesting thoughts on the topic.
Thanks. I kind of figured it wasn’t a yes or no. And I don’t wanna put you on the spot. I used to get antsy (or hopeful these days) that any day now the whole rotten edifice would fall over. I’m increasingly pessimistic: this could limp on for a century or more. No collapse.
It just doesn’t *feel* right. I know the magic of Keynesianism can keep this party going, obv. And reality isn’t about how I *feel* about the question. But I just sit here like “debts have to be paid”, “we have to pay our bills”, “the check will come due.” I’m too white I guess
Everyone is hurtling into Magic Money Theories -- based on the insight that under advanced fascism monetary value is a function of programmatic mind-control -- but there are ontological limits to politics which are being ignored out of religious zeal ...
... and the crypto-current is peeling away from this madness.
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