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[Economic] [Political]
The LEAST Important Election Of Our Lifetimes
by John Rubino
Posted November 1, 2020

election will make little differenceA consensus seems to have formed on both left and right that the upcoming presidential election involves some literally existential questions, making it THE MOST IMPORTANT ELECTION OF OUR LIFETIMES.

In fact, the opposite is true. This election is the least important of the past 30 years and very possibly the least important ever. Because, to put it bluntly, we’re kind of screwed either way.

The coming financial crisis of course. The pandemic turbocharged a process of hyper-financialization that was already underway, and now whoever is in charge next will have no choice but to keep bailing out everything in sight with tens of trillions of newly created dollars.

This will shift the pressure from bankrupt states and insolvent companies to the currency. Prices will start to rise as the dollar falls. And the fears of today’s voters will seem in retrospect like quaint fantasies from a simpler and embarrassingly naïve time. Let’s consider some of those supposedly existential threats: More…