this post was submitted on 01 Dec 2025
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Late Stage Capitalism
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yes, yes, we all know that capitalism relies fundamentally on a money supply that expands forever and ever, and that nothing about the whole grift keeps working if prices are falling or even just stable for extended periods. We need to issue loans today that are payable in future dollars which we are certain will be worth less than today's dollars or the whole shebang is basically out the window. "A dollar today is worth more than a dollar tomorrow" must be true the vast majority of the time for debt, credit, home loans, the national debt, municipal bonds, treasury bonds, the stock market, the overnight repo market, and central banks, just to name a few, to function whatsoever.