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21 sats \ 4 replies \ @Bell_curve 11h \ on: Stacker Saloon
I don't understand how one can embrace bitcoin and leftism
#857016
Let me explain.
In the late 1970s -early 1980s neoliberalism emerged in western democracies under leaders such as M.Thatcher and R.Reagan.
They deregulated economies, dismantled state monopolies and much of the Keynesian legacy which had been in place since the 1930s.
To be clear not all about Keynesian policies were good- but they were not all bad either- and this is not understood by most Libertarians who are effectively the next generation of neoliberals.
Keynesian economic policy used the states fiat monopoly to stimulate the economy when it was depressed by investing in infrastructure using state issuance of fiat.
But the Keynesian model decayed and came to be misused somewhat to fund government spending that would not likely build a stronger economy.
So neoliberals emerged with their anti government rhetoric and strong corporate sponsorship.
Bankers were major sponsors of neoliberalism and used the era to deregulate the banking industry- they saw to it that the prohibition upon private for profit banks funding housing purchases was removed- and so the housing price boom started- a flood of debt surged into non productive housing assets.
The bankers assumed under neoliberalism a level of power and lobbying influence that effectively undermines democracy. They still enjoy that level of dangerous and undue power and influence in most western democracies. They have become since neoliberalism parasites destroying our democracies and economies.
Bitcoin emerged to provide an alternative to being a fiat debt slave.
Now perhaps you might see how 'leftists' or more broadly those of us who see the government as having a valid role in the economy and a major factor in the wealth of nations and who recognise that where not regulated bankers and other cartels will rentseek and undermine the overall wealth of nations.
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@Bell_curve has changed the rhetoric a lot recently. Even had to screenshot this one:
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