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Some sort of “emperor has no clothes” threshold has been passed where everybody is starting to see money as sort of fake and arbitrary that can be designed to do what you want almost at whim. The “too big to fail” banker mindset has been democratized a bit.
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Something very dangerously destabilizing is afoot around the entire concept of money and value. And that includes crypto. For the first time, people who are extremely money minded seem more than just shallow+ambitious. They come across as clueless. Even the cunning grifters.
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I imagine there’s some sort of general rush to hard assets, not just real estate but everything? Supply chain vagaries provide a short-term pragmatic motive to hoard stuff, but in general, is stuff > money now?
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Hmm. What’s the maximum rate of real asset depreciation above which you should prefer money now? Vegetables? Frozen food? Furniture? Cars?
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For those not seeing this... think of it in terms of the "burnout epidemic" (google the phrase). It's the same thing. And it does extend to fairly low-paid work.
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As wealth transfers to the tech industry, I wonder if part of the problem is their lack of an associated aspirational aesthetic culture for people to strive after. No kid thinks “I want to wear a hoodie & Allbirds when I grow up” in the same way past gens admired say fancy cars.
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