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Governments all over the world are indulging in the same form of statistical imagination, as surpluses are directed away from public goods into handling debt—creating debt and paying it off—a never-ending cycle that has nothing to do with public policy as we have understood it. Time, space, and lif…

We can continue to think of the story of the last forty years as the rising global reach of neoliberalism, and this hermeneutic explains a lot—nearly everything, in fact.

Jean Baudrillard termed hyperreality—a network of surface appearance so densely configured and mediated through the manipulation of images as to displace our sense of what’s real. What we think of as the financial system is something that resides only on the surface

And thanks to this same networked mutually reinforcing matrix of digital age capital, the traditional lessons of punctured asset bubbles also failed to take hold in the wake of the mortgage sector’s implosion. Capital demanded austerity, even as every sane measure of a sustainable mass recovery cal…