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@ vinney | opfn.co
2025-02-13 22:07:07
The _everything bubble_ has grown to encompass socio-political epistemology.
All significant directions in the political compass have to constantly double-down or "**print** unbacked facts/claims" in order to keep their credibility deficit expanding.
Neither political side nor any ideologically-committed camp can capitulate because at this point the catastrophic retconning of their narrative would be akin to realizing that they are insolvent: that they've built a entire epistemological structure atop a foundation of printed claims often backed by nothing (or at this point partially backed by some actual evidence that is so enormously convoluted that chasing it all down to base reality is actually impossible. sure, we've got a bit of gold, but not enough to right the monetary ship).
The credibility debt is insolvent. It can't be paid back without complete collapse. An epistemological reset is the only option at this point, but what are the historical precedents for such a thing? The Copernican revolution, maybe? Or the Protestant Reformation?
To the extent that the fiscal everything bubble and the epistemological bubble are the same thing - or at least driven by the same fuel - draining all the fake money out of the world would pop "both" bubbles. As Warren Buffett said: we'll find out who was swimming naked.
You can't maintain a gargantuan epistemological illusion with hard money.