Frederik, new to your Substack. Thank you for the time you give to crafting these insightful essays. I have a portfolio of investments, but I am not a market player. I do see a crash or a collapse coming. I see the financial as only one part. The one that I see as much more significant is the structural collapse of institutions. The millions of people who work in the administrative offices of large corporate and governmental businesses are going to find themselves, like employees at Twitter and Meta, out of work with no transferable job skills to a world where the centralized institutions are much smaller. I see as a relationship between Two Global Forces. One is the global force of centralized institutions of governance and finance. There is also the global force of decentralized networks of relationships. They are two trends passing in the night. The former having reached its apex will decline. The latter will grow until some thing like a digital collapse takes place. Ultimately, our global world will become more local. There will continue to be global institutions, but they will be much smaller, and, to surprise of only those at the top of those organizations, no one to take care of their daily needs. I think what is coming is unprecedented. This isn't the repeat of the 1920s and 30s. This is going to be something new and more ancient the end of the Roman Empire, the Mayan civilization or the Mesopotamia civilizations of the Fertile Crescent. What we have to our advantage is that we know what happened then, and we have a technical knowledge that no previous civilization had. We'll respond and adapt. Hard times will be with us. And a new world will begin to form as a result.
Frederik, new to your Substack. Thank you for the time you give to crafting these insightful essays. I have a portfolio of investments, but I am not a market player. I do see a crash or a collapse coming. I see the financial as only one part. The one that I see as much more significant is the structural collapse of institutions. The millions of people who work in the administrative offices of large corporate and governmental businesses are going to find themselves, like employees at Twitter and Meta, out of work with no transferable job skills to a world where the centralized institutions are much smaller. I see as a relationship between Two Global Forces. One is the global force of centralized institutions of governance and finance. There is also the global force of decentralized networks of relationships. They are two trends passing in the night. The former having reached its apex will decline. The latter will grow until some thing like a digital collapse takes place. Ultimately, our global world will become more local. There will continue to be global institutions, but they will be much smaller, and, to surprise of only those at the top of those organizations, no one to take care of their daily needs. I think what is coming is unprecedented. This isn't the repeat of the 1920s and 30s. This is going to be something new and more ancient the end of the Roman Empire, the Mayan civilization or the Mesopotamia civilizations of the Fertile Crescent. What we have to our advantage is that we know what happened then, and we have a technical knowledge that no previous civilization had. We'll respond and adapt. Hard times will be with us. And a new world will begin to form as a result.
Did you get the title for this newsletter from Jon Stewart 's bullshit mountain?