You Are Witnessing the Death of American Capitalism

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Notes, suggested reading, and corrections below 👇🏻

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Corrections and notes:
A few things were possibly over-simplified to prevent this from becoming a 170 part Ken Burns series. Please do some searching/reading and learn your butt off! I'll add to these as needed, as responding to comments will just get lost in the ether of YouTube comment pages.

- Futures contracts and options are a bit different. In a contract, the buyer is obligated to buy the asst, and an option frees them of that obligation.

- The wealth generated in the 1950's can also be greatly contributed to much of Europe's destruction and how America used that as leverage to lend money under the condition of the US dollar being standardized for trade. This is a fascinating hour long video in itself.

- I anticipate that a portion of viewers will argue that this is just a new phase of capitalism. I disagree, but delving further into that disagreement requires further analyzing the semantic definition of "capitalism", which is probably a waste of time. So whether this is a new thing that doesn't have a name or a new mutation of capitalism that doesn't have a name, both are correct in describing the circumstances.

- Bitcoin would've been a great answer to a lot of these problems. Unfortunately it's not used as a currency, but as a prospective asset. If it's not replacing the US dollar enmasse, it's not a solution to anything in this video. In fact, it makes a lot of this worse when you consider the insane amount of alt-coins.

Further viewing:
- There is no higher recommendation on YouTube than @PBoyle for anything related to finance or economic history.

- Adam Curtis (BBC, etc) makes films that provide excellent surreal recaps of recent history that absolutely inspire me greatly.

LOTS of books I recommend:
- Technofuedalism is an excellent and accessible book about this from Yanis Varoufakis. It's actually a bit more far-reaching (and scary) than my conclusions in this video.

All of the following inspired this video:
- The Age of Surveillance Capitalism by Shoshana Zuboff
- Platform Capitalism by Nick Srnicek
- The Attention Merchants by Tim Wu
- New Dark Age by James Bridle
- Capital is Dead: Is this something worse? by McKenzie Wark

Finally, there are too many books to name about WWII and the Soviet Union that fascinate me endlessly. There is so much to learn those time-encapsulated parallel economies.


Timestamps:
0:00 - Intro
1:43 - CH1 Capitalism (A Eulogy)
9:23 - CH2 History Repeats Itself
19:33 - CH3 Post Capitalism
26:27 - CH4 Digital Sharecropping
36:10 - Conclusions