"The $80trillion-plus 'hidden' debt estimate is greater than the total stocks of US dollar Treasury bills, repo and commercial paper in circulation combined, BIS said. It has grown from $55trillion in a decade."
express.co.uk/finance/person… "Off-balance sheet $ debt may remain out of sight, but only until the next time dollar funding liquidity is squeezed. Policies to restore the flow of dollars would be set in a fog."
markets.businessinsider.com/news/currencie…

In celebration of 'world freedom day' and the fall of the Berlin Wall... a 🧵 demonstrating the fact that the capitalist is – despite 40+ years of privatising and plundering public assets – a dying breed: From 1977 to 2013, startups as a share of all US firms fell from 16.5% to 8.0%, a decline pervasive across states and sectors. In construction, e.g., the share of startups fell from 18% in 1979 to 7% in 2007 and 5% in 2014. hamiltonproject.org/charts/start_u…

Bank lending has tended to go increasingly towards mortgages, land banks and housing speculation rather than productive business.
Only overaccumulation - as opposed to underconsumption or disproportionality - can explain the consistentcy of this trend. The troughs tally with relative productivity booms - they tend to get shallower

Bc selling government bonds the Fed bought exponentially in 2020 = rising interest rates, it now has to sell them at a loss. "The US Treasury will see a 'stunning swing', going from receiving about $100bn last year from the Fed to a potential annual loss rate of $80bn by year-end"
bloomberg.com/news/articles/…

🧵 Empirical trends indicating
i) (state monopoly) capitalism is dying a natural death and approaching its final breakdown (as the evolution of production from mechanised to automated is abolishing the source of profit, capital’s theft of commodity-producing labour’s labour time) ii) (state monopoly) capitalism’s economic-technical basis is evolving into/birthing (state monopoly) socialism, meaning public ownership of the means of production is becoming a global economic necessity *for the first time*

Quantum computing is a socialist technical mode of production Computing operations are - like the dualistic, mechanistic capitalist mode of production (use value v value; technical labour process v valorisation process; etc) - binary. Quantum computing operations are non-binary, existing on a spectrum.

Not what he said. He said need to replace animal agriculture with non-animal agriculture, which w precision fermentation can produce exactly the same animal proteins w/out the antibiotics + w 1% of the pollution while reducing costs for consumers by 10x.

https://twitter.com/JamesHeartfield/status/1550021046543196162?t=FWuM77vXR6JoGIFVCjZtxw&s=19

What he might be better off focusing on is that most animal farming is completely unprofitable and massively subsidised by the taxpayer. Cow farming is wildly inefficient and precision fermentation is wildly efficient.

What if production becomes so automated, abundant and planned that humans evolve to become whatever they want to be and can change what they are at will? Maybe that's the context this whole thing really needs to be discussed in

https://twitter.com/PaulEmbery/status/1548997469320658951?t=3SEYoitDIBWC1OK2cUY9nA&s=19

You can already log in to computer games and 'self ID' as whoever you want. Maybe this is just a prelude to not being trapped in the same limited wage-slave body your whole life.

'market socialism' etc is an affront to 1000 years of dead labour (and far beyond, really) whose sacrifice has paved the way towards a world socialist economic-technical base, via increasingly integrated means of production. Undoing that = lower efficiency and higher prices! Capitalist enterprise is increasingly planned + dependent on the state for subsidies + facilities. Money is increasingly digitalised and worthless. This is advanced state monopoly capitalism. The logical evolutionary next step is 'state monopoly' socialism + digital vouchers.