Has Technological Progress Stalled?

I mean, I’ve said it before: you can only discover electrons once. Same thing with chemistry and the laws of thermodynamics. Those are one time discoveries.

This is one of the reasons i think the stock market is utterly insane right now- they think that 1) the super exponential rise in prices in recent years is derived from real value and not just a big dumb bubble, even though productivity, energy use, population, etc have hardly budged, 2) that the super exponential rise in stock prices will continue forever even without any corresponding change in the real world economy which is so deranged it’s basically lucid dreaming, and 3) that the state or the federal reserve can somehow defy reality and keep the gravy train going forever no matter what happens.

Yeah, sorry but no.

A lot of the political malaise we’re seeing right now is the result of the unstoppable force of the basic American story of endless victory running into the immovable object of base objective reality. A very significant portion of the public simply cannot accept that the party is over. So they have to find scapegoats (trans people, liberals) for the problem. This allows them to continue to not see reality. It’s not great.