2/1/21

This history of financial markets is one of boom and bust. So be it. Everyone who reads a little about markets quickly learns this. What is different this time is not the financial markets, but the extent to which we, at least in the US, have allowed them not only to dominate our economy but also to dominate our culture so money and the objective of getting money through manipulating money has become our primary shared cultural value. Consequently we now have a financial bubble in almost everything that can somehow be financialized and at the same time we appear to have a competence chasm in nearly everything else as evidenced by our inability to manage the huge but relatively simple task of managing Covid.

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