We already exceeded the worst year of the 2008 banking crisis. And its only May…
(media.kotakuinaction2.win)
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It seems really odd that we're having the biggest bank collapses in history, there really doesn't seem to be much panic about it, and the stock market is mostly ignoring it.
I feel the media and censorship is much stronger today than in 2008. banking stocks are getting completely wiped out if the bank is not “too big to fail”
This is the answer.
Keep the plebs content with bread and circus while gutting the underpinnings of civil society.
This. Mass media has always had the capability to steer events rather than simply report them, and has never shied away from using it ("Remember the Maine!").
If they wanted to crash the economy like 2008 all they'd have to do is start reporting about how banks are about to collapse and they could start the bank runs themselves. Any bets on whether or not they would have done so if it wasn't a democrat-controlled presidency and congress right now?
One of the most important scenes
"Is anyone jumping off of buildings yet?"
"Why would they? Sub-prime mortgage prices are up."
It's not just that the media is lying. The media needs to lie. The banks need to lie. The government needs to lie. The Fed needs to lie. Not one person wants to tell the truth because the moment they do that, the entire Fiat currency system dies in one felt swoop.
Even if you say the truth, people are too disincentivized to hear it:
"There is no money. There hasn't been money for decades. No stock was safe. No bond was safe. No saving's account was safe. No retirement plan is safe. There is no money, and there hasn't been. Everything in your bank account is just random numbers that don't mean anything. The economy runs on nothing. The stock market runs on nothing. The dollar runs on nothing. There is no money."
All money is, and has ever been, is a promise that you did something for society. In the olden days of tiny villages, it'd be "he's the guy who digs the latrines, give him some carrots.", in the modern era, it's "here is some dollar bills, which imply this guy dug the latrines and was given them as a sign of work completion since society is too big to know everyone personally, give him some carrots."
Even when gold was money, money was just trust. Gold represented a value of barter, you traded someone your carrots, they gave you gold representing the value of the carrots to trade with someone else, instead of giving you the barter directly in return.
Trust, or less charitably Blind Faith, is the only thing that keeps the economy alive.
There's no genuine media, so why would there be any actual reporting?