Accelerationism @ ZH

After outlining Deutsche Bank’s recent comprehensive denunciation of ECB monetary policy (aka financial crack-cocaine), Zero Hedge remarks modestly:

Why does all of this sound familiar? Oh yes, because we have been warning about all of this since the day the Fed launched QE, and we warned that there is no way such unorthodox policy ends well. Seven years later the chief economist of Europe’s biggest bank admits we were spot on. We expect many more strategists and economist to make comparable admissions, if they don’t already behind closed doors. […] On the other hand, “groupthink” as DB calls it, surrounding Draghi and the central planners is impenetrable, and sadly all of this will be ignored. Which is why the only real way this final bubble is resolved, is when it bursts. Which is also something we have said long ago: instead of fighting the central banks, just let them achieve their goals as fast as possible. […] Ultimately, it is now too late to change anything anyway, plus the economic, finacnial and social collapse will inevitably come, whether in one month or a decade. The best that those who are paying attention can do is prepare. As for everyone else… they can find comfort in their echo chambers which ignore the reality that their actions create.
(UF emphasis.)

5 thoughts on “Accelerationism @ ZH

  1. on this understanding, it might be that not very far in the future, Venezuela is a new but thriving member of the Pacific Union, while European Union is in great economic turmoil

  2. zh are contrarians with no coherent agenda outside of a vague but universal reverence for markets. it’s fun to read and they’re right sometimes, but their entire animus is pretending they’re one step ahead of whoever has rank at the moment, and they’re almost always wrong. perhaps the purpose of this blog is to carve out a meaningful narrative to legitimize an imagined future but zh is some gawker level shit, imo

    • ZH is (comparatively) consistent in its Austrianism. Contrarian in the current climate, of course, but not generated by dialectical reflex.

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