MicroWaveAmericans’ credit card debt hits a record $1 trillion
NathanielThomasUndesirable? The system is working as designed.
The world is $59 trillion in debt to ITSELF. Which makes no sense.
Sure it does. You got ground level which is trust, above that central bank, above that fiat currency, above that companies/people, and above that banks.
You orders machine from my employer. You put some down and the rest you pay on delivery. To buy the raw materials from middlemen, we put some money down and pay the rest on delivery (or use a po but that is complicated way of nearly the same thing), the middlemen put some money down and pay the rest on delivery, and the employer of them hasnt been paid enough yet so is borrowing some from the bank and is depending on two week payperiods. The employees are renting and owe money at the end of the month to a landlord who is still paying off a mortgage to a bank, who is using deposits that can be summoned at all times…
The same x amount of money is multiplied. This x amount of money becomes y*x amount of debt. It is all abstractions on abstractions with no bottom. Since even if you say trust is the bottom it is really just trust that the top of this process will continue to work.
Sleep tight.
Wait wait wait., but that just sounds like feudalism with fucking hedge fund bros, real estate speculation, and a bunch of extra goddamn steps…
Well I mean I don’t think your life is as bad as a 12th century Russian serf.
Indeed, even Kings would envy is right now. Just even the luxury of having to not slave away for weeks just for a lump of stand moldy bread is a marvel. We have an hyper abundance of food at our hands. You can even drink a delicacy called coffee together with another delicacy called cinnamon without murdering countless on the way to your table together with the miracle of milk kept fresh through days or even weeks without it even getting a stale whiff.
There is even more to that, but the luxury of partaking in it and complaining about it, thinking our lives are somehow worse, is the biggest luxury of them all.