So, this brings us to the possibility that WeWork is a symptom of a broader problem, which is that all that money which central banks have been printing since 2008 has mostly gone into doing stupid stuff. Eventually, the reality beneath the accounting always comes to the fore. In 2008, the reality that spending so much labor and resources on ever bigger houses for people who already had houses, didn't really produce much benefit (probably not even for the people living in the new houses).

The money glut printed since 2008 has mostly not gone into new productive capacity, it has gone into a lot of software-related hooey like Slack, WeWork, Uber, and various new social networks. I don't even think these have improved the target sectors that much, far less have they been worth the labour and other resources put into them.

It feels like another Fiscal Crisis is coming.