/rant on

Remember all those folks in the weeks and days preceding election day on November 4, 2020, who were buying guns, ammo, and other provisions in preparation for civil breakdown? (No one known personally, of course, and gawd no not actually any of us, either; just them other others who don’t read blogs or anything else.) Well, maybe they were correct adopting the precautionary principal (notably absent from a host of other perils besetting us). But as of this writing, nothing remotely resembling widespread disruption — feared by some, hotly anticipated by others — has developed. But wait! There’s still time. Considering Americans were set up by both political parties to distrust the outcome of the presidential race no matter which candidate claimed to have prevailed, we now face weeks or months of legal challenges and impatient formation of agitators (again, both sides) demanding their candidate be declared the winner (now, dammit!) by the courts instead of either official ballot-counters or the liberal-biased MSM. To say our institutions have failed us, and further, that political operatives all the way up to the sitting president have been openly fomenting violence in the streets, is a statement of the obvious.

Among my concerns more pressing than who gets to sit in the big chair, however, is the whipsawing stock market. Although no longer an accurate proxy of overall economic health or asset valuation, the stock market’s thoroughly irrational daily reaction to every rumor of, say, a vaccine for the raging coronavirus, or resumption of full economic activity and profitability despite widespread joblessness, renewed lockdowns, and a massive wave of homelessness in the offing due to bankruptcies, evictions, and foreclosures, none of this bodes well for the short-term future and maintenance of, oh, I dunno, supply lines to grocery stores. Indeed, I suspect we are rapidly approaching our very own Minsky Moment, which Wikipedia describes as “a sudden, major collapse of asset values which marks the end of the growth phase of a cycle in credit markets or business activity” [underlying links omitted]. This is another prospective event (overdue, actually) for which the set-up has been long prepared. Conspiratorial types call it “the great reset” — something quite different from a debt jubilee.

For lazy thinkers, rhyming comparisons with the past frequently resort to calling someone a Nazi (or the new Hitler) or reminding everyone of U.S. chattel slavery. At the risk of being accused of similar stupidity, I suggest that we’re not on the eve of a 1929-style market crash and ensuing second great depression (though those could well happen, too, bread lines having already formed in 2020) but are instead poised at the precipice of hyperinflation and intense humiliation akin to the Weimar Republic in 1933 or so. American humiliation will result from recognition that the U.S. is now a failed state and doesn’t even pretend anymore to look after its citizens or the commonweal. Look no further than the two preposterous presidential candidates, neither of whom made any campaign promises to improve the lives of average Americans. Rather, the state has been captured by kleptocrats. Accordingly, no more American exceptionalism and no more lying to ourselves how we’re the model for the rest of the world to admire and emulate.

Like Germany in the 1930s, the U.S. has also suffered military defeats and stagnation (perhaps by design) and currently demonstrates a marked inability to manage itself economically, politically, or culturally. Indeed, the American people may well be ungovernable at this point, nourished on a thin gruel of rugged individualism that forestalls our coming together to address adversity effectively. The possibility of another faux-populist savior arising out of necessity only to lead us over the edge (see the Great Man Theory of history) seems eerily likely, though the specific form that descent into madness would take is unclear. Recent history already indicates a deeply divided American citizenry having lost its collective mind but not yet having gone fully apeshit, flinging feces and destroying what remains of economically ravaged communities for the sheer sport of it. (I’ve never understood vandalism.) That’s what everyone was preparing for with emergency guns, ammo, and provisions. How narrowly we escaped catastrophe (or merely delayed it) should be clear in the fullness of time.

/rant off

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