this post was submitted on 11 May 2024
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1970s oil crisis and stagflation
That was the point where the capitalists said "we have a problem, and the solution from now on is going to be to strip the copper out of the walls"
but we don't want it to look like we're just stripping the copper out of the walls, so we'll invent ever more abstract financial instruments to cover for ourselves and congratulate ourselves for our ingenuity the entire time