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It is not least thanks to John Maynard Keynes and his apologists that modern society found an excuse to further expand the public sector at the expense of future generations and at the expense of the productivity and prosperity of the private sector. Governments and pseudo-science (Paul Krugman) entered into an unholy marriage, from which only bastards such as green eco-communism or the so-called Modern Monetary Theory (MMT) could grow. It is the well-known problem that even ancient authors and all mythical sources referred to as the mating of monsters, which in turn are capable of creating nothing but monstrous things as they stand unique and disconnected off the process of natural filiation.
The rapidly accumulating mountain of public debt that we are encountering these days is likely to keep future generations in turmoil with threatening symptoms as it creates unnatural things the free market would never had seen (windmills in forrests, EV subsidies or woke language to name a few of thousand examples).
Large credit cycles, at the end of which there are always currency collapses and state bankruptcies, usually end in fireworks. However, it is a fireworks display that costs many lives, creates wars, brings hyperinflation and thus maintains the transfer of the private sector into the arms of state actors (inflation as a hidden tax) for as long as possible. It seems as if we have reached the point where collectively defended narratives of reason, meritocratic elements, religion and tradition crumble before the onslaught ultural Marxists and their woken destructiveness.
The elements of bourgeois society will survive, they will retreat to secure retreats and individual lifeboats or the nuclear family. Meanwhile, with the incredible debt spiral, the new socialism is also dying its spectacular death as the market will refuse financing green infantile commie nonsense at one point. It is now up to each individual to find their lifeboat before the political parasite caste tightens the thumbscrews.
1032 sats \ 1 reply \ @030e0dca83 4 Feb
I rolfed when I met this meme
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Good one
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Meanwhile, with the incredible debt spiral, the new socialism is also dying its spectacular death as the market will refuse financing green infantile commie nonsense at one point.
Well said.
P.S. regarding our recent discussion about BRICS - check this out yet: #412256
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Thanks. I'll have a look later. My wife insists that I have to clean the kitchen after a fish/sea food massacre....
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"Under current policies" is the key there. Current policies are reaching a breaking point.
I've been saying for a while that we might see strategic defaults as part of a short term approach to managing the debt. With rapidly escalating global tensions, I could see the US defaulting on debts held by "the other side".
I think we'll see a few more chapters in this story, but as you said we know it ends in currency collapse.
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418 sats \ 2 replies \ @TomK OP 4 Feb
And I really hope that the Euro (that's my base case) goes to hell first and the US again has the lead to a system of free markets. We Europeans have been poisened by a totally corrupt system of ''harmonization and centralization'' that kills private initiative.
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I don't know that the country as a whole has much hope, but there's an enormous resurgence of state's rights in America.
On a long enough time frame, our internal migration and policy trends will lead to the more sane states ascending in national importance.
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189 sats \ 0 replies \ @TomK OP 4 Feb
New light houses of freedom will rise stronger than ever!
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Consistent PoW, @TomK!
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Thank You
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63 sats \ 1 reply \ @siggy47 4 Feb
Great post, Tom. Thanks! What is the latest from the streets of Europe? Are the farmers still protesting? Coverage has lightened about the situation in the US. Edit: I guess not. I just saw a headline from France!
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284 sats \ 0 replies \ @TomK OP 4 Feb
Thank You. They are still growing. But still I am missing other relevant groups joining them. The banks and big companies now are backing the govs. I'm getting more pesimistic by the day... sorry
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This graph looks like a mountain stage of the Tour de France :)
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10 sats \ 1 reply \ @TomK OP 4 Feb
De facto it's the perfile of ''Cime de la Bonette'' with 2.900 m altitude.
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