Today’s video is kind of a case study in the importance of striking while the iron is hot. I was very, very excited to make this video a month and a half ago. An outline, and copious notes came to mind almost instantly. But instead of finishing off the script, I focused on the other two videos in the series, confident that this would be a big blow-out finale. Early next week when I finally sat down to write this script, I was a bit non-plussed. The ideas and the outline still made sense to me, but the vigor and rigor of the ideas have gone flabby. I don’t know. The video still makes some worthwhile points. But I’m not particularly happy with the final execution. I am, however, happy to have finally said my piece on cryptocurrency. Should be able to avoid this topic until the next run up in price a couple years from now.
Today’s video is an attempt to bridge a gap I see in a lot of economic discussion on twitter, in academia and in mainstream journalism. There seems to be a growing sense that the US economic consensus is changing in a bigger way that it has for four decades. The old Reaganite consensus seems to be falling apart. Some deplore this shift, but many more seem to love it. What neither the pro- or anti-camp seems to be doing in a serious way is reckoning with how cryptocurrency fits into this picture. This is a major oversight. How can we talk about the economy, money and finance without discussing a growing insurgency against all of those things? Today’s video attempts to put the two pictures together, and point out that Crypto ideology is very much on one side of this broader economic debate.
I’ve been bothered by Cryptocurrency for quite some time. I started following it seriously again after the 2017 peak and crash. I’ve always been leery of talking about it because I so fundamentally did not get why it continued to be a thing. After researching it at great length in recent months, I’ve come to the conclusion that it’s the world that’s crazy, not me. If cryptocurrency continues on its current trajectory, it’s got a lot of terrifying implications. I begin to unpack those in this video, which is intended to be the first of three.