World News

It all comes down to material reality in the end though. The standard of living in the west didn't result from all these financial abstractions. It was built on colonialism and exploitation of the Global South. What the financial abstractions did was mediate how these resources were distributed, ensuring that the oligarchs got the lion's share of the plunder. However, the plundering itself is what the whole system is ultimately built on. Now that the empire is starting to lose control over the colonies, and it's becoming challenged economically, and militarily, all of a sudden the house of cards is starting to crumble.