I narrate key points in my post “When Magic Expires: The Demise of Finance”

Musings Report 2026-31 8-1-26 When Magic Expires: The Demise of Finance

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When Magic Expires: The Demise of Finance

But First, My Annual Rattling of the Begging Bowl:
CHS NOTE: The Revolution No One Sees Coming will not just be a series of external events, it will be personal, as each of us will face situations we didn’t choose whose novelty and scale may exceed our previous experience. History is full of changes no one thought possible a few years earlier. No one else is writing about it like I am, so an annual subscription--which costs the same as two nothing-special lunches--is a unique value. Thank you for supporting my work, I greatly appreciate your renewing your subscription via PayPal or USPS mail.
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This is essay #7 in the series The Revolution No One Sees Coming.

Of all the things No One Sees Coming, one of the greatest shocks will be the failure of finance to fix what’s breaking down. By finance, I mean 1) money in all its forms, 2) credit/debt in all its forms and most importantly, 3) the mental construct / belief structure of Modernity and Progress that credits Technology and Finance with the magical powers to solve all problems, regardless of their nature.

There is a very appealing but fatal circularity to this mythology: since Technology and Finance can solve all problems, we define all problems as being technological or financial in nature.

As this chart illustrates, this circular belief about “how the world works” neatly ignores everything that isn’t technological or financial in nature and therefore cannot be solved by Technology and Finance. Since we hold the powerful hammers of Technology and Finance, we see only nails that can be pounded down.

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Why Finance Won't Save Us