The markets will go crazy

Steven Welzer
Oct 15, 2021

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In retrospect one aspect of the collapse of our civilization will be recognized as the bizarre divergence between our “economy” as represented by the financial markets (“Wall Street”) and the underlying real production / distribution / consumption (“Main Street”). The two keep diverging, though there’s got to be some limit.

With hypermodern factors at play (like: globalization, unprecedentedly low interest rates, massive governmental and central bank interventions, cryptocurrencies, etc.) the markets will go crazy. No one knows the implications, many have theories and prognostications. I think it might result in wild swings, disorienting oscillations of booms and busts. Over the coming decades (maybe centuries) people will be subjected to the vagaries of a miscreation run amok.

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Steven Welzer
Steven Welzer

Written by Steven Welzer

A Green Party activist, Steve was an original co-editor of DSA’s “Ecosocialist Review.” He now serves on the Editorial Board of the New Green Horizons webzine.

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