What's in a name? That which we call a rose
by any other name would smell as sweet;
It's the same with inflation and recession. In the real world, where our lives are experienced, names don't matter. You can call our lived experience whatever you like, but it doesn't change it.
by any other name would smell as sweet;
It's the same with inflation and recession. In the real world, where our lives are experienced, names don't matter. You can call our lived experience whatever you like, but it doesn't change it.
In our personal lives, that lived experience is one of falling behind. That's an annoying experience if you're well off, and a shattering experience if you're not. As this lived experience persists, more and more Americans will fall into the shattered camp.
In our collective lives, that lived experience is one of real economic output contracting as wage/price expectations expand, resulting in (among other things) the steepest productivity decline over the past six months since record keeping began in 1948.
reuters.com
reuters.com
Our collective lived experience is one of an economy that is rotting from the inside out.
I call that stagflation, but if you want to call it something else, be my guest.
I call that stagflation, but if you want to call it something else, be my guest.
You can call that collective lived experience whatever you like, but what you cannot do is *deny* that experience. What you cannot do is declare an alternative reality as if that were our lived experience.
But that's exactly what is happening.
This is Fiat World.
But that's exactly what is happening.
This is Fiat World.
In Fiat World, we are TOLD that inflation is "zero in July" and 6 months of declining real GDP is no big deal if we don't call it a "recession".
In Fiat World, we are TOLD that massive wealth inequality and the preservation of tax breaks for private equity billionaires are necessary for "job creators".
In Fiat World, we are TOLD we must vote for ridiculous candidates to be a good Republican or a good Democrat, we are TOLD we must buy ridiculous securities to be a good investor, and we are TOLD we must borrow ridiculous sums to be a good parent or a good spouse.
And we believe what we are told.
epsilontheory.com
epsilontheory.com
In Fiat World, names are everything.
Was it a "raid" at Mar-A-Lago or a "search" at Mar-A-Lago?
Tell me how you name it and I'll tell you what you believe about it.
Names - and the stories that go with them - are how power is exercised in modern mass society.
Was it a "raid" at Mar-A-Lago or a "search" at Mar-A-Lago?
Tell me how you name it and I'll tell you what you believe about it.
Names - and the stories that go with them - are how power is exercised in modern mass society.
Even more importantly, though, there is Fiat News.
epsilontheory.com
epsilontheory.com
This is not a red v. blue thing. This is not a Democrat v. Republican thing. This is not even an American thing.
This is a power thing.
And it will be the end of us if we let it.
This is a power thing.
And it will be the end of us if we let it.
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