Cancel the Funeral for the US Dollar: The “Patient” Just Leaped Out of the Coffin

Sealing the USD’s coffin requires conjuring up a replacement reserve currency, and that turns out to be a lot more challenging than many understand. You know the scene in movies where the body-bag is being zipped up or the coffin lid slid into place when the recently deceased startles everyone […]

The Community Economy Needs Its Own Money

The solutions will come not from those profiting from inequality and scarcity but from relocalizing “money” and production to create degrowth community economies. We think we understand “money”–we don’t. We think the current versions of “money” are the final versions–they aren’t. Understanding “money” requires some heavy-lifting, but it’s important, so […]

Control What You Can

Our control is what’s irreplaceable. Wealth, status and the illusory security of dependency chains cannot replace control. What’s our personal strategy for navigating tumultuous times? I’ve long advocated controlling as much as you can. We don’t control the availability of fuel and food from far away, or the government’s policies. […]

Autocracy’s Fatal Weakness

This desire for compliance and consensus dooms the autocracy to failure and collapse because dissent is the essence of evolutionary churn and adaptation.. The various flavors of autocracy (theocracy, kleptocracy, dictatorship, etc.) look remarkably successful at first blush but they all share a fatal flaw. To understand the flaw we […]

How Healthcare Became Sickcare

The financialization of healthcare started two generations ago and is now in a run-to-fail feedback loop of insolvency. Long-time readers know I have been critical of U.S. healthcare for over a decade. When I use the term sickcare this is not a reflection on the hard work of frontline caregivers–it […]

Risk Accumulates Where No One Is Looking For It

All this decay is so incremental that nobody thinks it possible that it could ever accumulate into a risk that threatens the entire system. The funny thing about risk is the risk that everyone sees isn’t the risk that blows up the system. The mere fact that everyone is paying […]


Eventually the “flock of timid and industrious animals” changes their minds about how much exploitation by the few is acceptable. You may have noticed the news flow beyond the hot war in Ukraine is largely focused on capital: financial capital (markets, liquidity, interest rates, commodities, central bank tightening, etc.) and […]

The Only Non-Totalitarian Solution to Resource Scarcity: Decentralized Degrowth

Totalitarian imposed inequality is the only possible path of centralized Degrowth: 10,000 for me, one for you, unless you disobey, and then you get zero. The fantasy is that everything will soon be super-abundant and cheap again because creating money out of thin air creates demand out of thin air […]

The Upside of a Crushing Recession

Unbeknownst to those trembling in fear of a crushing recession, the crushing recession they fear is the only curative for a fatally distorted system which has lost touch with reality. Everyone looking at the inevitability of recession with alarm is forgetting the many upsides of recession, especially one that crushes […]

What If It Breaks?

Making your entire economy a Landfill Economy dependent on the fantasy of infinite replacements and substitutions is the height of hubris and folly. Very few people ask: what if it breaks? It’s a question we can ask of a great many things: touchscreens, motherboards, tools, vehicles, supply chains and entire […]

If You Want to Build Back Better, Reshore Our Entire Supply Chain

It is entirely accurate to say that the U.S. is addicted to waste and distant sources of essentials. The downside of dependency is in the air. The U.S. has allowed itself to become dependent on other nations for essentials, a policy that I view as an insanity fueled by greed. […]

Wars Rarely Achieve Their Initial Goals: The Curse of Second-Order Effects

Initial victories do not guarantee the war will be won. Rather, they arouse the most dangerous enemy: the fatal hubris of over-confidence. War tops the long list of human folly for a basic reason: it rarely achieves the initial goals of launching the war. It takes a special kind of […]

Why So Few See the Last Chance to Exit

When the crash can no longer be denied, the drop is widely recognized as having been obvious and inevitable.. The last chance to exit is well-known in stock trading circles, but the concept can be applied much more broadly. The basic dynamic at work is a mismatch between the fundamentals […]

Geopolitics and Degrowth

The Geopolitics of Degrowth holds that real power flows not from waste, centralization and coercion but from decentralization, relocalization and the free flow of value. Conventional geopolitics is all about more: more military power, more sanctions, more coercion, more influence. The Geopolitics of Degrowth is all about the the power […]

Our Financial System Is Optimized for Sociopaths and Exploitation

Let’s call this financial system what it really is: the MetaPerverse, a conjured world of self-serving cons. We live in a peculiar juncture of history in which truth has been banished as a threat to the maximization of private gain, i.e. the hyper-pursuit of self-interest. Evidence that supports a causal […]

Our Leaders Made a Pact with the Devil, and Now the Devil Wants His Due

The unprecedented credit-fueled bubbles in stocks, bonds and real estate are popping, and America’s corrupt leaders can only stammer and spew excuses and empty promises. Unbeknownst to most people, America’s leadership made a pact with the Devil: rather than face the constraints and injustices of our economic-financial system directly, a […]

The Winter of Our Discontent: Hubris Is Ascendent

Meanwhile, back in the wintry real world, everyone facing a dime in higher costs is jacking up their price by a dollar. We’re constantly assured everything’s on the mend but this trying-too-hard marketing has the opposite effect: it confirms everything’s unraveling. We’re told inflation is transitory (you mean like terminal […]

Juggling Sticks of Dynamite: Our Fatally Distorted Sense of Risk

So when the gambler ends up juggling lit sticks of dynamite, he’s confident nothing bad can happen because nothing bad has ever happened, no matter how much risk he takes on. The problem with constantly being saved from the consequences of our actions is this fatally distorts our sense of […]

Let’s Talk “Fed Policy Error,” Pushers and Addiction

Addiction is deadly, and no amount of artifice can obscure that this monetary addiction and collapse is the result of one Pusher: the Federal Reserve. To talk about the Federal Reserve raising rates and reducing “easing” as a policy error is like saying the fentanyl addict who reduces his daily […]

The Cost of Financialization-Globalization: You Lost $500,000 and Gained $137.13

Ponder what a clawback of the $50 trillion might entail, and the immense benefits of returning to producing quality goods and services by completely unwinding financialization and globalization. The happy story that’s been ceaselessly promoted for 45 years is that financialization and globalization have been wunnerful for all of us, […]