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In absence of real economic growth winning at zero and negative sum games is the only realistic chance at making it in the broadly defined West. The ponzi trend
by nootropicat 5y ago
In absence of real economic growth winning at zero and negative sum games is the only realistic chance at making it in the broadly defined West. The ponzi trend is only going to grow until the whole system collapses under itself. People not playing the game are going to lose the most, as unfair as it is, because rich executives are going to exploit their positions and dump their bags on public companies they control. In more corrupt cases, countries instead of companies. It's only going to grow.
Even so, arguably crypto ponzi games are harmless compared to more socially accepted ways of wealth extraction. Facebook, twitter and other mass social media destroyed society and utilize best ai/ml in existence to steal people's attention, at this point they should be viewed as human hostile ais. The lost potential of years wasted on pointless flamewars and mindless clicking is immeasurable. So many smart people wasting their best years on making ads even more effective instead of creating actual wealth.
In the good timeline there was no bailout in 2007 and the global financial system completely disintegrated, deleting most of fake wealth and unsustainable liabilities in the process, but without long term damage to real productivity.
This is the bad timeline in which wealth extraction dominates until there's nothing left, after which everything stops with no system energy reserves. That's how Soviet Union ended.