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Fiat money only has value because we accept that it does, corporation stocks are only valued what they are because we believe they're valuable. It's all hardly
by moffkalast 3y ago
Fiat money only has value because we accept that it does, corporation stocks are only valued what they are because we believe they're valuable. It's all hardly based on anything real anymore, it's just recursive speculation. The world's billionaires have so much made up stock money that they can borrow against, but never use a significant amount of because it fundamentally does not exist. The only thing that's stopping the whole system from imploding is maintaining the constant imaginary growth. And climate change will forcibly shatter the illusion eventually.
There is this theory that we've peaked with our net energy extraction in the 1970s, and the graphs that start to diverge that year sure are plentiful and puzzling. It may just be that the last 5 decades have just been us deluding ourselves into believing there's value where very little or none exists, and we only keep afloat because there have been marginal efficiency gains along the way.