SPAC's, NFT's, Crypto and "The Metaverse"- The "Matrix Style" Psychoworld of "Gamers" Running An Economy



This was my comment (with a few edits and additions)  on a friend's excellent post about SPAC's, now that they are in the news due to Trump's shenanigans with his new Media company. My friend is in finance and warns this is all a huge bubble, which will do what bubbles always do.

["Derivatives based on commodities and equities were bad enough. These new products which include NFTs as well as Crypto, and SPAC's are based on nothing. 

They are leveraging and hypothecating on pure digital fiction. Now they have a name for these things, and it's called the Metaverse. It's what you could describe as a cultural/social engineering project of 25 years of self-induced mass psychosis, in which the physical world of actual reality is being replaced by a Matrix style virtual world in which nothing is real. 

The economy itself becomes a platform for tech addicted juveniles suffering arrested emotional development and Superhero envy to extend their practice of "gaming" into adulthood, then figuring out ways of generating virtual income, or points, by doing so.

Of course, since this outlook presupposes that production, manufacturing, and other IRL activity is only desirable to provide a betting pool, but is otherwise obsolete, these mindless psychotic "gamers" are prepared to live off of the loot, cheap imports, and slave labor of the world's poor. They couldn't care less about this because that reality exists outside "the game." Therefore, these new products, featured in this New Economy are not just a bubble waiting to blow, but it is mass murderous and morally disgusting.  

And the irony is that as much as they want to believe they are free agents, they are just tools of an Olympian power game who will take the inevitable fall, but an even bigger one than the idiots who lost everything in 2008 with MBS's CDO's, etc. It's actually worse than a bubble. It's a chemical free digital Acid Trip, which is going to have a very rough landing, for all of us."]

(And don't bother telling me about Elon Musk, who supposedly is successful in both worlds. He is the hook who they are using to pull you in, just like those who have built every other bubble in history and left the rest of us holding the bag when they collapsed)

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