this post was submitted on 12 Jun 2026
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Chapotraphouse
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It does feel like financial capitalism will keep trucking along up and until the bottom (material reality) falls out, and if that doesn't start to happen with the oil supply simply becoming too low to sustain basic functioning society (and prevent food riots) then idk
The stock market can stay irrational for a very long time, maybe indefinitely, as long as the USD retains its global status. If you’re China and you have a comical glut of USD, literally what else do you do with it other than buy up stocks and bonds. There aren’t enough real assets to buy up otherwise, and their monetary wealth would devalue.