As unemployment continues to climb, the central banks maintain a furious money printing, DOUBLE DOWN discusses with Charles Hugh Smith the elaborate Rube Goldberg machine created to simulate a functioning economy. Max suggests that all that is left is the ‘subsistence click farmer’ who feeds the online advertising machine with his or her clicks. The conversation turns to the ‘fractals of incompetence’ infecting institutions who are incapable of solving problems big or small. They were failing before Covid-19 and they are doing worse now. In terms of dealing with the problem, Charles Hugh Smith recommends acquiring and maintaining new skills, as your skills cannot be destroyed through inflation or other economic mismanagement. Tune into DOUBLE DOWN to hear more on what Charles Hugh Smith has to say about a future in which the incompetent bureaucrats of ruined the last of the economy.
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