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Is The Credibility Bubble Bursting?

by John Rubino on April 19, 2015 · 13 comments

In a fiat currency system, perception is, by definition, everything. Paper money has no intrinsic value. So the people saving it and accepting it in exchange aren’t expressing faith in the money itself but in the competence and honesty — and power — of the institutions managing it. Let that faith erode and those slips […]

 

2007 All Over Again? Let Us Count The Ways (And Remember What Happened Then)

There’s a journalistic sub-genre that might be called “The Highest/Lowest Since XXX,” in which a reporter takes a current statistic and illustrates (often with snazzy charts) how it hasn’t been this high or low since some date in the distant past. This is a compelling theme, implying as it does that the connection between now […]

7 comments

Is A Trap About To Be Sprung?

New York artist Stephen Green’s latest painting, DemandedDislocation, combines current affairs irony with a deeply sad vision of the future. Check out the workers demanding higher wages in front of the discount robots store. Green’s point is that two big trends are intersecting: 1) The push by workers for their fair share of record corporate […]

10 comments

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