Debt Rattle July 4 2023

[maryballon]

This essay by Fabio Vighi gives some insight as to why TPTB seem determined to steal from the poor.

Gradually, Then Suddenly? Crisis Capitalism and Its Disavowals

As the gap between real capital and fictitious credit widens, so does the potential for systemic collapse. At the same time, transnational capital has no other option except try to control the narratives that guarantee a continuous supply of credit. Here, then, is the paradox introduced at the start of the essay: for the credit chains to continue to stretch into the future, the real economy must be radically downsized. In order to survive its own devastating contradiction, hyper-financialized capitalism must limit and regulate real demand by turning the screw on the work society. In this kind of New Normal, the combination of impoverishment and revolt is met with mass-scale media manipulation, behavioral conditioning, and social engineering. Today, the ‘curious copulation’[ii] between science and capital brings about not only a fatal crisis of valorisation, but also the dematerialisation of the real as such, with codes and algorithms working as master signifiers for the ideological restructuring of social reality.

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