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The problem with bubbles of received wisdom and herd-euphoria is conditions change but the risk of something untoward happening is still perceived as inconsequentially low.

We can pretend an insanely over-leveraged, fragile status quo is rock-solid and will deliver the goodies regardless of anything short of an alien invasion or meteor-strike, but pretending will only take us so far.

The ideal ‘sound money system’ is one in which many currencies, both state-issued and privately issued, compete in a transparent global marketplace.

Now that America has been transformed from a high-trust social order into a low-trust social order, there’s no going back.

The risks of gambling in speculative frenzies and depending on serial asset bubbles continuing forever are easily observable, yet few act to reduce these risks.

But the status quo has much to unlearn, and it seems the only pathway to a new understanding is a Great Depression.

Those who got out early (i.e. now) will be glad they acted promptly and those caught in the decline will regret their faith in a high-cost system that was no longer affordable or sustainable.

Eventually policy-makers turn the dials to 11 and nothing happens.
Many others have explained why inflation is part-and-parcel of the status quo. In the simplest terms, where’s why inflation is essential:

So what happens if AI destroys both profits (due to it being “free” and a freely distributed commodity) and jobs?

Now that debt is rising faster than “growth,” and “growth” is dependent on speculative credit-asset bubbles, the collapse of the Keynesian dream looms large. Unbeknownst to economists, the Keynesian bedrock of modern economics–using financial repression and government spending funded by debt to manage the business cycle of growth and recession–is an artifact of a century of expansive cheap energy and virtuous demographics.

Globalization and financialization have fueled the global economy for 40 years. Now they’re in the decline phase of the S-Curve.

Does anyone benefit from a deep, prolonged global recession?

We either make the future or break the future, so choose wisely.

Sometimes the news isn’t breaking, it’s broken.
Breaking/Broken News You Might Have Missed: sometimes the news isn’t breaking, it’s broken:

Dematerialize all the “heroes” foolishly trying to get back control of Earth so they can continue killing, plundering, and destroying the planet and its many lifeforms for their own private gain under the guise of glorifying their ideology.

Until we reach that point of social transformation, we’re passengers on a ship of state doomed by rampant, systemic corruption and the collapse of moral standards and the rule of law.

If you prefer reality to artifice, oh, you wretched doom-and-gloomer. Just look at our social media feed, that’s what real.

The fantasy is that inflation will plummet to zero and we can all go back to “Bringing Demand Forward.” The reality is what’s plummeting is demand.

How did someone like me get shadow-banned? There is no way to know, and that’s a problem for our society and our ability to solve the polycrisis we now face.

Solutions abound, we just have to look for them in the right places.
Despite my reputation as a doom-and-gloomer, all of my work is about solutions.