If you want to know why I risk and why I resist, I will tell you. If you want to know what motivates me, this is it. My line in the sand, has always been the children. From my heart to yours, I understand what you have been through. God bless you, stay strong #StayInThisFight…
Read more
2 years ago · 13 likes · 6 comments · Rachel Maldonado
Damn for a moment there I thought this was Rachel Maddow and she'd been vax injured
It will take me the rest of the day to recover from the disappointment
This is why we are being exterminated:
The Everything Crisis
THE ANATOMY OF A SUPER-BUST
Introduction
Even the most cursory glance at economic and financial history will reveal a litany of bubbles and booms, crashes and crises. We’ve seen numerous instances of speculative manias, real estate bubbles, market collapses and banking crises. Even the dot-com bubble of 1995-2000 wasn’t really ‘a first’, since there’s at least one previous instance – the Railway Mania of the 1840s – of the public being blinded to reality by the glittering allure of the latest vogue in technology.
You’d be wrong, though, if you concluded that “there’s nothing new under the Sun” about what we’re experiencing now. The coming crunch – for which the best shorthand term might be ‘the everything crisis’ – sets new precedents in at least two ways.
First, it’s unusual for all of the various forms of financial crises to happen at the same time. Even the global financial crisis (GFC) of 2008-09 wasn’t an ‘everything crisis’. Now, though, it’s quite possible that we’re experiencing the start of a combined stock, property, banking, financial, economic and technological crisis, with ‘everything happening at once’.
Second, all previous crises have occurred at times when secular (non-cyclical) economic growth remained feasible. This enabled us to ‘grow out of’ these crises, much as youngsters ‘grow out of’ childhood ailments.
No such possibility now exists.
The true story of modern economic and financial history involves, on the one hand, the ending and reversal of centuries of economic expansion and, on the other, an absolute refusal to come to terms with this reality.
What follows is an attempt to tell that story as briefly as possible.
https://surplusenergyeconomics.wordpress.com/2023/03/13/251-the-everything-crisis/