Kim Dotcom on Twitter: This may be the most important threat that I ever make
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But like climate change, ignore the problems and things f up eventually in various ways. Probably later than you think, but in ways that spread everywhere and you can’t stop after they really start.
What he’s describing is a system that will be past the point of no return at some point if the rules of the game aren’t changed. That point may well be past. Our politicians and business owner interests are too invested in the current game and haven’t given a care past the last election cycle or annual report in a long time. They have too much control over too-large pieces of the economy. But the modern economy is also pretty large to be managed.
We could change the rules of the game. I know people who have advocated just defaulting on all the debt for years. If the debts are defaulted/wiped in calculated relationships (I forgive you X, you forgive him Y, he forgives her Z) maybe some of this becomes less painful. Not that we’re competent enough to do that, we’re the ones that gave Russia their current kleptocracy, thank you Harvard very much.
For a historical example, when Germany died from hyperinflation, it was foreign USD debt that caused it. If the debt were denominated in Papiermark, the US would have effectively no power over what Germany chose to do when paying back its debts.
For more context, see Modern Monetary Theory.
This sort of data is the reason I have no confidence in the system, and have no financial retirement plan: the whole thing is a bubble.
Eurolibertarian q-lite babble
There is no conspiracy, no plan, it's just gonna collapse.
The US, and all worldwide economies may be a bubble, sure. But they are 100% safe for as long as people keep consuming, working, and the economy keeps moving forward. It doesn't really matter for the US as much as it would matter for smaller economies like Zimbabwe or Venezuela.
We may experience a recession the likes of Lehman Brothers, sure. But nothing is going to collapse. People aren't suddenly going to go into the woods, and let their cars, smartphones, and AC units rot.
Please.