Pause for Thought: Money without Value in a Rapidly Disintegrating World - The Philosophical Salon
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The elementary reason for this course of events is that the closer the system gets to collapse, the more it requires exogenous crises to distract and manipulate populations, while deferring its downfall and laying the ground for its authoritarian changeover.
The current grotesque overvaluation of all risk assets (stocks, bonds and property) suggests that the elites will continue to use their political playbook to buy more time and postpone the bursting of a debt bubble they began to inflate years before Covid and Putin became favourite scapegoats.
This perverse situation must be developed into its proper dialectical conclusion: the only way to put an end to the destructive succession of emergencies is to put an end to the self-destructive capitalist logic that feeds them.
Joining the dots means understanding that the purpose of the Ukrainian emergency is to keep the money printer switched on while blaming Putin for worldwide economic downturn.
Crucially, they know what to most of us appears counterintuitive: that the breakdown of our obsolete mode of production can only be delayed through 1) A steady stream of global emergencies, 2) The controlled inflationary demolition of the increasingly unproductive real economy, and 3) The authoritarian makeover of liberal democracy.