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Op-Ed: Hyper-Clueless Hyper-Capitalism — The fan is getting hit hard.  

Bullets made out of money never miss and don’t make appointments.

Image: — © AFP
Image: — © AFP

If theoretical capitalism works at all, it works incredibly slowly and haphazardly at everybody’s expense. Retail prices are finally reacting after years of severe inflation.

The prices are dropping because consumers don’t have anywhere near as much money as they had three years ago. This is a symptom of market “decapitalization”. The money that is used to support the sector has disappeared.

Rents, energy, homeowners association fees, insurance. whatever; the Great Gouge has now basically derailed the entire economy.

Even the wealthy are a lot less wealthy as a result whether they know it or not, and deservedly so.

For instance:

You could buy two or three houses with a million bucks X years ago.

Now you buy about half of one of the houses for the same money.

Apply this to any asset and it’s the same outcome.  

Your money is far less powerful, to put it in kindergarten terms.

You’re morons, and you can prove it.

Money isn’t about money.

 It’s about what money can buy.

This is definitely not news to anyone who has ever actually been alive, but apparently, it’s news to the hyper-capitalists. This mindless money-grubbing culture has destroyed whole civilizations before, and it’s doing it again.

This is a sort of culmination of historical trends. It began with the energy market. At one point the futures market was pushing oil up to all-time highs. These people weren’t going to take delivery of the oil themselves. They were playing margins and milking the market. The oil industry, never famous for its intellect or sanity, eventually complained.

Health was the next obvious cash cow. Everyone’s a lot sicker, and much more broke, as a result. You’re now paying tens of times the prices for the same services. You’re not getting value. You’re paying for someone else’s margins. You’re putting everyone else’s kids through college in the process. How much do you need to be told about education prices? Same thing, same people.

The theory of capitalism works on the idea that everyone has money. Now, they don’t. The price rises are far beyond capacity. The theory has effectively shot itself.

I was fascinated to see that Pew Research had found in 2015 that US households on average couldn’t take a hit of $400 to their monthly budgets. It looked bad enough then. That was in the Good Times when basic expenses were accessible. The Great Gouge began offstage slightly before the pandemic. That same $400 has turned into multiple weekly hits. It was the worst possible market outcome. It was and is suicidal.

Private debt is always maxed out to some degree. Now it’s been hit with a triple whammy. Increased personal costs + financial insecurity + future rises = Chaos. If your rent doesn’t kill you, your credit card will.

Your business costs are pretty much the same. Supplier costs + very iffy cashflow + debt = A nice cliff to drive over. Never mind interest rates, the bullets have already hit.

The smart move would be to lose the debt and back out of the bear traps ASAP. That’s not happening. Thanks to automated margins and the sort of life experience in the credit market that makes a nuked Scrabble set look like Shakespeare, these hyper-mistakes will continue to be made.

Nore does anyone question these incredibly stupid, bad decisions. Spineless nobodies with a vocabulary of “Yeah, boss” and nothing else do as much damage as anything else. The obsolete business management models and support the hierarchies of halfwits. These people support the most destructive decisions and carry them out.

The finance and credit markets aren’t famous for their ability to face facts. They’ve caused serious financial disasters like the Great Recession, and they’re doing it again right now.

They’ve now killed their own markets with lousy calls for so long. The banks are very much in the firing line here, and by inference further up the food chain. They’re the direct interface with the real world, and the real world isn’t looking at all well these days.

Nobody’s safe from the Great Gouge. You could be the richest person in the world, and all that means is you can lose more than anyone else. All these huge losses showing up all over aren’t a coincidence.

Either the money markets grow a brain or choose your cliff.

Money is not an ideology.

Money has never needed to be so self-righteous.  

Anyone can have an ideology. Hardly anyone has any real money, and that’s evaporating before their eyes. How idealistic is that? How self-righteous can you be when you’re going broke in thousands of different ways?

Back in feudal times, a few had the money and everyone else were serfs. That won’t work now. The people with the money now are far more vulnerable. They can be wiped out in seconds. Their money has just made them big obvious targets.  

It’s fixable.

Lose the sycophants and other untrustworthy slimy clowns. Hire talent instead.

The word “fraud” needs to become a synonym for “stupid”. It is. It’s also a massive cost for all businesses directly or indirectly.

Regulate the megalomania out of the credit market.

Blockchain the stuffing out of finance to the point it won’t dare to be so stupid again. (Blockchain just means good efficient accountancy in practice. Crosschecks can also find things you didn’t see.)

Stop worshipping ancient tax dodges and other “clever” cretins who’ll keep you in court for decades. They’re major liabilities at best.

Check your facts. You don’t need to know if you’re right. You do need to know if you’re wrong.  

Lose the ridiculous old business models. They’re trip-hazards, just obstacle courses, not assets.

Crank up your business training to modern standards. You’ll see the results instantly.

Tell management science you need people who know how to do business, not amateur theatricals.

Get the lead out, right now. Bullets made out of money never miss and don’t make appointments.


The opinions expressed in this Op-Ed are those of the author. They do not purport to reflect the opinions or views of the Digital Journal or its members.

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Editor-at-Large based in Sydney, Australia.

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