Dec 11, 2020Liked by Can Duruk

The exasperation or madness/anger you speak of has its analog in China, where I was for six years. Here is an excerpt from an article I was reading just now, followed by the link:

"For my money, however, the most important motivating factor behind the embrace of the country’s socialist period is that young Chinese have lived and suffered under capitalism. Their recognition of and appreciation for the CCP’s early socialism-building achievements is underpinned by a broader reappraisal of the history and theory of the international socialist movement since the 19th century.

This reappraisal goes deeper than reproducing zombie narratives or 20th century rhetoric: It’s based on a vivid sense of contemporary life and reality. Young Chinese have spent much of their lives watching the decay of the global capitalist order, the rise of inequality, and the collapse of working class status. The earlier generation embraced pure market ideology, private enterprise, and capitalism, but to many young Chinese who work in the private sector their elders built, these ideas are associated not with unleashing productivity, but the droning pressure of “involution,” feelings of relative deprivation, and grueling work schedules like the 9 a.m. to 9 p.m., six-day-a-week marathon known as “996.”

Indeed, almost anywhere you look online, there’s a palpable sense of anger and frustration at capitalism and market ideology."


The purchasing of yachts you somewhat satirically you refer to -- and a fitting image for a much wider and deeper problem -- will produce little more than the dissatisfaction written about here.

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Totally agree with the sentiment here. I’m into alternative assets now just because of how wild everything’s been, it’s just too much for me.

I shared y’alls site with my colleagues in my MFE program, had everyone reading it together last night until way-too-late during finals week right now. You guys have a veritable fan club here in Cali now

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You seem to have been bearish since last 2-3 years. That is quite long time to maintain bearish stand. And, now, you seem to be giving up. When last bear throws in towel......as they say.

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