| @OP, I have heard many have same feeling. Although, most think it was not over the 'past year'.
It just became more visible lately, as the 'trust' in USD was overextended by a decade or two. 48K $USD for a post by an 'influencer' can be added to your list. [1] Basically, the monetary value of perception appears to be orders of magnitude higher than the value of traditional things that were valued before, up-to-say, early 90s. I have heard of a view, that overall - what we are seeing today are just symptoms of the imploding trust in USD as a reserve currency of the world.
And in US as a trusted guardian of that status (suggesting that there is really no better alternative, apparently, no longer enough...) There is really nothing to back up that reserver currency status of USD anymore: -- not by technical means (no Gold standard), -- not by economic superiority means ( subtract 'perception-based' & 'middleman' economy from US's contributions: financial services, ad-tech, sports & entertainment, from the economic 'booms'). -- not by superior political system (instead, a lot of money laundering, bribery to politicians by means 'book & documentary deals', stock tips, real-estate gifts, relatives on boards of directors for businesses, etc) -- not by superior law enforcement system (instead, using federal agencies to entrap opposition) -- not by superior judicial system (instead, US Supreme court choosing what standards to use for which issues) I guess, we will see if that view is right or not. May be we will be the generation that will oversee the unwinding of the empire, may be not. [1] https://insiderpaper.com/top-10-tiktok-influencers-with-high... |