“There are decades where nothing happens; and there are weeks where decades happen”
This statement is—wrong-ish.
For decades various people have been predicting what is happening now: the end of the American empire, the late Imperial wars, the despair and poverty of late-imperial rentier capitalism, and the rise of China.
Indeed a lot of people (your host included) were screaming about this 30 years ago. I read my first book on the way that America was turning to Gilded Age plus inequality in 1986. Everyone who wasn’t stupid, bought or ideologically captured could see what neoliberalism would lead to. From the late 90s we yelled about sending the West’s industry to the West, but hey, it was the “End of History” and capitalism and democracy had won and it didn’t matter where industry was because “comparative advantage” was, and still is, completely misunderstood, as were the constituents of state power.
So—it’s all happening now, along with massive wildfires from climate change and it seems like for decades nothing happened, but really, it was all happening: without deliberate policy choices, these weeks wouldn’t be possible.
The key to making accurate predictions is simply asking “what must happen if the current course continues, and will the course continue.” In 2009, when Obama decided he’d rather have a couple mansions and Hollywood friends than be the next FDR, and massively increase fracking to top it off, it became clear that the course would continue and all this became inevitable. Realistically, the rise of China was locked in when they were allowed to join the WTO and climate change was locked in when Reagan tore down the solar panels on the White House roof.
So it’s been a very easy time to make accurate long term predictions, much as Keynes, upon seeing the post-WWI peace deal was able to predict WWII and the end of the British Empire. It still had to play out, but everyone with sense knew it was inevitable.
Most of the time I’m sanguine about all this, but every once in a while despair and anger at all the harm which was so easily predicted and which could have been avoided wells up. Other times it’s glee: the fall of the American Empire will occasion a lot of horrid events, but unless you’re American or perhaps European, it’s hard to be sad, especially as we witness genocide in both Gaza and Syria, and witness huge homeless camps.
I was sent this video to watch, and it’s so typical of America these days:
American citizen breaks down in tears because she is now living in her car “for the foreseeable future”
She has a job but rent prices are so out of control in America and you need 2.5x the rent to qualify for an apartment, she has to live in her car
Rent is out of control pic.twitter.com/zpJ68fEvF5
— Wall Street Apes (@WallStreetApes) March 13, 2025
Kind of hard to feel sorrow at the end of an Empire which treats even its own citizens this way. Meanwhile China deliberately crashed its own over-inflated housing market when the CCP noticed that too many people couldn’t afford their own homes any more, and is moving to mostly state-built housing. Tell me more about how awful “Communism” is. Nor are they shipping Israel arms and supporting genocide. (No, the Ughuirs are not being genocided, though they are discriminated against.)
If you’re feeling similar emotions, well, that’s understandable and no big deal. Just remember, the world is always and has always been shit for a lot of people, all that’s changing is who, and in a couple decades, how many. But there’s still delicious food, beautiful scenery, and love is just as sweet. All the good still exists, and your sorrow and pain does not help other people, and hurts you.
Live, enjoy, and perhaps allow yourself some happiness at the good amidst all the evil.