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Typically, as I peruse headlines, information tales and different sources for my punditry, I’m struck by the synchronicity of issues.
For instance, I’ve been watching with bemusement as Donald Trump, our erstwhile excuse for a president, and cryptocurrency, the choice to common previous cash that got here into being after the 2008 worldwide monetary meltdown, each look like having meltdowns of their very own.
I ought to word, earlier than going additional, that I’ve solely a imprecise understanding about cryptocurrency and its ramifications, and that I’ve completely no understanding of no matter it’s that goes on contained in the mind pan of Trump.
Nevertheless it positive is amusing to look at them each crash and burn.
At the very least I’ve been hoping that’s what taking place in each circumstances, although each have proven indicators of continued life.
Trump, as most already know, is having suits of frenzy concerning the much-ballyhooed nonappearance of the anticipated “HUGE purple wave” that was supposed to place Democrats completely in a self-created political black gap from which they — like mild beams, misplaced keys and nearly all the pieces that falls right into a black gap — may by no means emerge.
As a substitute, the Dems seem to have held off the worst of the anticipated purple tsunami by a mix of arduous work amongst their volunteer corps and a rising notion that even some Republican voters are getting bored with the Trump circus.
Management of the U.S. Senate appears to be a executed deal for the Dems, because of what some say are miraculous wins in Arizona and Nevada.
Management of the U.S. Home of Representatives stays in limbo, although, as extremely tight races in numerous elements of the nation proceed to be counted.
Even our personal little nook of MAGA nation, the third Congressional District encompassing the Western Slope of the Colorado Rockies and stretching out to Pueblo on the Entrance Vary, appears headed for a recount as a result of tight-numbers recreation being performed out throughout 27 counties.
I can solely hope that Aspen’s personal challenger for the CD3 seat, Democrat Adam Frisch, will win in the long run, placing the incumbent, Trump sycophant Lauren Boebert, in her place alongside Trump on the trash heap of political historical past.
If these two ever received collectively for a losers’ ball, the ensuing conflagration of self-pity, self-serving lies and bloated outbursts of entitlement-spawned viciousness can be insufferable if it weren’t so scrumptious.
However, as Frisch himself stated concerning the election consequence, we’ll simply have to attend till Friday to be taught who the winner is in CD3.
So, what concerning the crypto-meltdown?
Effectively, it’s like this: Final week one of many largest cyrpto exchanges, FTX, declared chapter following statements from its rival crypto change, Binance, questioning the fiscal stability of the FTX.
It appears the crypto world is a little bit sensitive about rumors of instability, and the Binance statements prompted a run on the FTX deposits by traders hoping to avoid wasting what they may if FTX went belly-up.
For a medium of change invented as an end-run round conventional currencies, this entire crypto factor has at all times appeared shaky to me, and this newest growth confirms my suspicions.
It’s typical of our immediate-gratification society, actually — a brand new type of cash exhibits up and everyone jumps on the gravy practice to get wealthy fast. When issues get sketchy, as they at all times do in monetary markets, individuals holding crypto investments begin panicking, crashes occur, and the remainder of us surprise why anybody fell for the rip-off within the first place.
After all, all cash is a rip-off of 1 type or one other, a approach for sure acquisitive varieties to achieve energy over their neighbors, however the current monetary construction of the planet has been a very long time within the making. So it mustn’t shock anybody that some racy upstart foreign money change ought to run into bother, rapidly and infrequently.
Identical to sure upstart politicians (see above) who received into the sport based mostly on bluster and lies, and immediately discover themselves going through the opportunity of full irrelevance, at finest, and (for one in every of them) probably legal fees.
And so it goes, as one in every of my favourite authors, Kurt Vonnegut, preferred to comment when he arrived on the finish of a provocative or fruitful line of thought.
