The Era of Biden

[Smitty-48]

it's like I have lived for half a century

for forty years I've watched world events

this is as weird as things have ever been to date

it's like a science fiction movie

[Smitty-48]

at the same time,

this is the world that John Carpenter told me to expect, all those years ago

[Smitty-48]

thing is, for the whole "Post War Boom" era that Millennials call "the Good ol' Days"

we were actually in a frozen conflict

the Cold War wasn't really about ideology

it was a dispute over the Potsdam Agreement

that agreement was made in the Second World War

so the net result was that World War Two never ended,

it was actually a stalemate that went on for forty more years

then when the wall fell, that was the entering of the epoch,

that is when Marshall McLuhan world started to come true

"World War III is a guerrilla information war with no division between military and civilian participation.”
– Marshall McLuhan, 1970

[Martin Hash]

MAGA was 1980-2010

I enjoyed the ‘60s & ‘70s but I was a child. The Computer Revolution were the glory years, which turned into the Networking Revolution that got us here.

[Smitty-48]

MAGA was 1980-2010

I enjoyed the ‘60s & ‘70s but I was a child. The Computer Revolution were the glory years, which turned into the Networking Revolution that got us here.

yeah, and the 90's was the zenith, the Roaring Nineties, End of History party

[Smitty-48]

2008 was the crash

we are in a depression

it's just not the Great Depression,

it's the Long Depression, with another associated Gilded Age

the money printing required to buy the bonds to keep the interest rates negative to inflate the debt

is actually crippling the economy, with no inflation there is no investment, strike of capital 2.0

[Smitty-48]

it's financial repression

you need some inflation

inflation is not a bad thing, investors need to charge interest to make returns

but with the massive debt burden, the inflation has to be repressed into containing that

so the rest of the economy has to stop, it can't grow, they have to repress it

until the debt has been inflated down to something manageable

[Smitty-48]

the only growth is in the asset bubbles, stock market, real estate, etc

but that's not the real economy, the real economy is still stuck in the 2008 crash

[Smitty-48]

at the same time, there is the larger Information Age epoch rolling on

technology is deflationary, the information economy drives prices & wages down

so even tho it appears that we are at zero interest rates, really we are in negative territory net net

so that is the invisible depression, price & wage spiral

[Smitty-48]

there will be a post Covid boom

a whole bunch of money will flood into the economy, people will go out and spend

but that will only cause near term inflation

on the longer view, we are in a long term deflationary spiral, as automation replaces labor

for one year people have been forced to save

that money will dump into the economy all at once

but with net negative interest rates, it will all dump into the asset bubbles

the asset bubbles will inflate, people will run out and buy houses, people will dump cash into equity markets

but it wont trickle down to the real economy, that will just be automated even more