A Shaky Foundation

And so castles made of sand fall in the sea, eventually.
- Jimi Hendrix

There's a widespread belief out there that the U.S. and the global economy in general is on much sounder footing ever since the financial crisis of a decade ago. Unfortunately, this false assumption has resulted in widespread complacency and elevated levels of systemic risk as we enter the early part of the 2020s.

All it takes is a cursory amount of research to discover nothing was "reset" or fixed by the government and central bank response to that crisis. Rather, the entire response was just a gigantic coverup of the crimes and irresponsible behavior that occurred, coupled with a bailout designed to enrich and empower those who needed and deserved it least.

Everything was papered over in order to resuscitate a failed paradigm without reforming anything. Since it was all about pretending nothing was structurally wrong with the system, the response was to build more castles of sand on top of old ones that had unceremoniously crumbled. The whole event was a huge warning sign and opportunity to change course, but it was completely ignored. Enter novel coronavirus.

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Zerohedge’s Twitter Account is Permanently Banished

Most of you reading this will be aware that Zerohedge's prolific and highly popular twitter account with over 670,000 followers was on the receiving end of a lifetime ban by the Twitter politburo. This post won't focus on the details of this specific ban, but if you want to read more about it, see the following: Zerohedge Suspended On Twitter.

It's imperative not to overly focus on the individual victims of tech giant bans, and instead zero in on the bigger picture. Rather than debating whether or not you like Zerohedge, or whether you think it crossed a line, I want to highlight the dangerous implications of dominant social media companies wielding permanent bans as a weapon against freedom of speech in practice.

This post will cover three main issues. First, the fact that Twitter and other social media companies have essentially created a caste system when it comes to engagement on their platforms. Second, the question of whether or not a lifetime ban from social media platforms is an ethical concept. Third, the dangers of Twitter essentially throwing the entire timeline of a banished account into the memory hole.

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