The thing is I have a precise harbinger of doom on the looming 2008 Bank failures. The Housing bubble was obvious. It was an ad in an alt weekly showing someone who stereotypically should not be buying A home saying “I didn’t know I could buy a home.” On our new tech bank failure, there is no precise thing to point to, but there are various small minutiaes of Tech Lords selling us fantasy lands and claiming it as the new reality and there is the bubble that came into being during Highest Covid and that mass quarantine era when all we had was our tech.

The reality for economy is innovation comes out of these bubbles. It probably does not necessarily have to be the case. The problem is that we cease to allow the bubbles to fully burst — moral hazards are bubbled into being instead. Socialized loss and all that. The things of revolution, your “99 percent” Occupy thingy. Except. The comparison here is being made to college debt relief. Which is… You know… There in that 99 percent but skews toward the 33 percentile. The class divides divide.

This entry was posted on Tuesday, March 14th, 2023 at 6:49 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.