It absolutely is. I’ve sensed it coming for years now. Gen Y and Gen Z have been struggling under student loan debt. Car loans are getting years longer. People were micro-financing weddings and vacations. Now services like “Klarna” and Afterpay are just repackaged credit card debt.

The majority of people in America can not survive. College degrees aren’t enough to find a job, and raises/bonuses are non-existent. Most people are working for minimum wage, and that minimum wage is stagnant. If you had real estate or stocks, the boom in the housing and financial sector could offset this pressure, but with the majority of property getting swept up by large hedge funds, there’s no room for average Americans to get their foot in the door with a mortgage.

So what do people do? They stop buying. It’s the same market-stagnation effect that deflation has, only with all the micro-economic stress that inflation creates. It happened before in 1929. It’s happening again. Because America allowed itself to slip back into the capitalist trends that created the previous Gilded Age.

I had never heard about the “Network State” concept before, but now I hate it, because Zuckerberg sure as hell loves it