this post was submitted on 10 Aug 2025

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Chapotraphouse

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45

China Is Busy Repeating the Same Fundamental Mistake the West Made (thehonestsorcerer.substack.com)

submitted 7 months ago by ratboy@hexbear.net to c/chapotraphouse@hexbear.net

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Curious what people's thoughts are on this

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[–] FuckyWucky@hexbear.net 19 points 7 months ago* (last edited 7 months ago)

underestimates the role the state can play. too much fear mongering about public 'debt'. U.S.. West's de-industrialization was a choice. Capitalists care about turning money into more money, skipping production entirely (the C part) and moving to finance is a way to do that. The most egregious version of this is cryptocurrency, which has zero book value or any future cash flows rooted in production (eg. dividends).