By incentivizing speculation and corruption, minimizing the rewards for efficient work and sucking incomes dry with inflation, America has actually greased the skids to collapse.
Of all the mass misconceptions running rampant in the culture, none is more marvelously delusional than the conviction that we can all get fabulously abundant from speculation while producing nothing. The essential quality of speculation is that it produces absolutely nothing: it doesn’t produce any brand-new items or services, increase efficiency or increase the performance of real-world fundamentals.
Like all mass misconceptions, the higher the detach from reality, the higher the appeal. Mass misconceptions get their escape speed by leaving any ties to real-world restrictions behind, and by firing up the most powerful booster to human blissful self-confidence understood, greed.
Lost in the mania of easy wealth from speculative trading is the absence of any value production in the rotation-churn of moving bets from one table to the most recent hot video game: in turning houses sight hidden, no functionality was contributed to your house. In transferring bets on one cryptocurrency to another or from one meme stock to another, no value to the economy or society was developed.
In the mass misconception that near-infinite wealth can be created without producing anything, developing value has no value: the misconception is that I can get rich producing nothing but speculative gains, and after that I can buy all the things somebody else is making.
The dream powering the speculative craze is when I get rich, I’ll quit working and live off my wealth. It’s intriguing, isn’t it, how everyone can get rich by means of unproductive speculation, stopped their tasks and after that live off the productive work of somebody else who failed to get rich off speculation.
Perhaps that’s why all the container ships are lined up at Long Beach, waiting to dump the goodies made in China for American speculators to buy. This is what takes place when the reward structure of the economy decomposes so that being efficient has little benefit (i.e., working is for chumps) while hypothesizing is all upside (get abundant quickly and easily).
Everyone understands terrific empires ended up being excellent by moving their important supply chains to competing nations, living it up on borrowed/printed cash, making use of the highest bidder wins regulatory/governance system and incentivizing speculation while pushing wage earners into debt-and-tax bondage. Read up on your history, Bucko; all fantastic nations arrived by stopping boring, tiresome efficient work to hypothesize on impressions of value with borrowed cash.
This is the result of monopolies and cartels becoming the financial and political power centers of the nation. Making the most of personal gains is all that matters in this reward structure, therefore treating staff members as chattel to decrease expenses, offshoring critical supply chains to squeeze out a couple of more dollars of earnings, engineering items to break down (prepared obsolescence), purchasing regulatory barriers and “complimentary passes” and tax breaks galore with all the billions showered on investors and other fraudsters by the Federal Reserve: in a word, a system that optimizes corruption.
This is how you hollow out a country and guarantee collapse. The most fulfilling “skillsets” are a sociopathological fascination with optimizing profits by any methods available and speculating with Fed totally free cash for financiers. The millions of “retail” speculators are simply picking up the hints being given by the billionaires who got their wealth by issuing financial obligation to money stock buy-backs and other financial manipulations.
Working for monopolies and cartels is for chumps because monopolies and cartels have no incentive to share profits with mere workers. Their profits are made not by taking care of their workforce however by regulatory capture, artificial deficiencies and financialized destruction of competition: initially, obtain billions thanks to the Fed and Wall Street, damage the competition (for instance, the taxi industry), then once the competitors has actually been wiped out, boost prices due to the fact that now customers have no option aside from another member of the cartel.
Speculative “wealth” is phantom wealth, a flickering illusion of success. All speculative bubbles pop, and all speculative bubbles inflated by borrowed money and reserve bank control pop even more ferociously than bubbles funded by actual savings.
By incentivizing speculation and corruption, decreasing the benefits for efficient work and drawing earnings dry with inflation, America has actually greased the skids to collapse. Similar to all mass delusions, the incentives to continue believing are immense and the rewards to reconnect with reality few.
So in conclusion: the speculative gains to be made in the collapse of the mass delusion will be magnificent. There’s nothing like the collapse of a hollowed out, completely corrupt economy to generate outsized profits for active speculators. Just keep your speculative earnings on number 22 on the roulette wheel. (A Casablanca movie referral …)
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