Friday, March 27, 2020

Suspended Accumulation

Writing this from my bunker after another meal of spam and macaroni...But seriously, it is a novel experience, sitting here in limbo, wondering if liberal "democratic" capitalism is nimble enough to survive this pandemic. If the hegemonic order is instilled deep enough, if the colonization is thorough enough that people will be content to bury the dead and return to old, familiar ways. As I just heard somebody say: it is easier to imagine the end of the world than the end of cruise ships. I am cynical enough to believe it.

The question is; after the burials, after all the post-mortem analysis and angry blog posts, can Capital just thaw itself out, just fire up the motors of accumulation and return from the deep freeze like some cryogenic corpse? What does all the accrued debt do to the system? Is the next generation of taxpayers obligated to pay back the trillions? According to WIKI on modern monetary theory: " an ongoing tax obligation, in concert with private confidence and acceptance of the currency, maintains its value."

So its a confidence game that works until people run out of toilet paper. For my part, I can make more by getting laid off and collecting unemployment than I can working. And the tax payments future workers have to make to keep the cruise ship industry alive will also be financing their own destruction in the form of climate chaos. So we can say the incentive structure is a bit off kilter.As for so called "politics", not even Debord could have imagined a Spectacle this obscene or surreal.The stock market has a record day as unemployment skyrockets along with infection. No one knows what to think, myself included. See what tomorrow brings.

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