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home ownership has stayed in the 65% range for 25 years up slightly from the 90s....
things are correcting as mortgage rates are below 6% again, home prices and rents are stabilizing and falling in most markets.
Many people dont need two cars, especially two expensive cars.
i respect your views and opinions so this sort of piqued my curiostiy
i'm working so i sent my agentic avatar to his read his available substack and glean for accuracy and bias
feel free to grade the response
To analyze the bias of Oliver Kornetzkeâs Substack, we have to look at the recurring themes, rhetorical style, and ideological framing across his recent body of work.
While the "Necrocapital" post focuses on finance, his broader catalog reveals a consistent Left-Accelerationist and Neo-Marxist worldview characterized by deep systemic cynicism.
1. Ideological Framework: Systemic Collapse
The author operates from a perspective of "Anticapitalism as a medical/biological necessity."
The "Death Cult" Narrative: Recent titles like "Capitalism Is a Death Cult" and "Capitalism's eugenics reaches its apex" indicate a bias that views market economies not just as flawed, but as inherently genocidal or "self-culling."
Historical Revisionism: In posts discussing ICE or American history, he frames the U.S. exclusively as an "empire built on slavery, theft, and genocide." This is a Critical Theory bias that prioritizes historical grievances as the primary lens for interpreting modern institutions.
2. Rhetorical Bias: Absolute Fatalism
The writing utilizes highly charged, hyperbolic language to create a sense of inevitable doom.
Pathologizing Economics: He consistently uses medical metaphorsâinfection, cancer, culling, infectionâto describe social and economic phenomena. This is a "Pathological Bias" that reframes political disagreement as a struggle against a terminal disease.
Universal Complicity: He often argues that everyone is "complicit" or that the "despair is total." This binary framing leaves no room for moderate success, reform, or positive data points, creating a Totalizing Bias.
3. Socio-Political Bias: Anti-Elite and Anti-Imperial
The authorâs bias is sharply directed against the "Billionaire Class" and "Western Imperialism."
Hostility to Capital: Posts like "The American Capitalist Class Wants Slavery Back" suggest a belief in a coordinated, malicious intent among business leaders. This is a Conspiratorial Bias that attributes systemic outcomes to the secret desires of a monolithic "elite" rather than complex market or political incentives.
Technological Grief: He displays a Luddite or Degrowth bias regarding technology, viewing the internet and modern tech as tools for hollowing out human experience rather than expanding it.
4. Intellectual Bias: Post-Rationalist Cynicism
While he uses logic and "logic-gated" structures (bullet points, clear headers), his conclusions are often Post-Rational.
He starts with the conclusion that the system is failing and selects "rational-sounding" arguments to support that pre-determined outcome. This is a classic form of Confirmation Bias tailored for an audience that values intellectual rigor but feels a deep emotional resonance with "doomsday" scenarios.
Summary of Bias Profile
Political Orientation: Far-Left / Revolutionary / Accelerationist.
Tone: Fatalistic, cynical, and clinical-pejorative.
Primary Lens: Power dynamics and systemic extraction.
Omissions: He rarely acknowledges improvements in global literacy, health outcomes, or poverty reduction that have occurred under the systems he critiques.
The Bottom Line: Oliver Kornetzkeâs Substack is a high-intensity polemic. It is not "news" or "neutral analysis"; it is a philosophical project designed to deconstruct the legitimacy of modern global systems. It is effective for understanding a specific branch of contemporary radical thought, but it is deeply non-objective.
i respect your views and opinions so this sort of piqued my curiostiy
i'm working so i sent my agentic avatar to his read his available substack and glean for accuracy and bias
feel free to grade the response...
The Bottom Line: Oliver Kornetzkeâs Substack is a high-intensity polemic. It is not "news" or "neutral analysis"; it is a philosophical project designed to deconstruct the legitimacy of modern global systems. It is effective for understanding a specific branch of contemporary radical thought, but it is deeply non-objective
Being an operative for the far left doesn't make specific statements wrong.
The one thing that is clear about crypto, is that it's built for crime.
âI am not a fan of Bitcoin and other Cryptocurrencies. They are not money, and their value is highly volatile and based on thin air.â
same guy, a few years later...
"it's an amazing thing...crypto. I love Crypto....Crypto... the US should be the crypto capital of the world"
Putting this latest piece from Oliver Kornetzke out there to hear people's take on it..
in other words, the capital markets, which were always meant to be about allocating financial resources to the most promising activities in the real economy, have been hijacked by their own narrative and divorced from the underlying real economy, chasing instead hyped-up stocks or entirely fabricated assets like crypto.
Bubbles like this are nothing new and usually pop. Just this current bubble appears bigger, systemic and kind of existential. Or am I just being too dramatic?
i respect your views and opinions so this sort of piqued my curiostiy
i'm working so i sent my agentic avatar to his read his available substack and glean for accuracy and bias
feel free to grade the response
To analyze the bias of Oliver Kornetzkeâs Substack, we have to look at the recurring themes, rhetorical style, and ideological framing across his recent body of work.
While the "Necrocapital" post focuses on finance, his broader catalog reveals a consistent Left-Accelerationist and Neo-Marxist worldview characterized by deep systemic cynicism.
1. Ideological Framework: Systemic Collapse
The author operates from a perspective of "Anticapitalism as a medical/biological necessity."
The "Death Cult" Narrative: Recent titles like "Capitalism Is a Death Cult" and "Capitalism's eugenics reaches its apex" indicate a bias that views market economies not just as flawed, but as inherently genocidal or "self-culling."
Historical Revisionism: In posts discussing ICE or American history, he frames the U.S. exclusively as an "empire built on slavery, theft, and genocide." This is a Critical Theory bias that prioritizes historical grievances as the primary lens for interpreting modern institutions.
2. Rhetorical Bias: Absolute Fatalism
The writing utilizes highly charged, hyperbolic language to create a sense of inevitable doom.
Pathologizing Economics: He consistently uses medical metaphorsâinfection, cancer, culling, infectionâto describe social and economic phenomena. This is a "Pathological Bias" that reframes political disagreement as a struggle against a terminal disease.
Universal Complicity: He often argues that everyone is "complicit" or that the "despair is total." This binary framing leaves no room for moderate success, reform, or positive data points, creating a Totalizing Bias.
3. Socio-Political Bias: Anti-Elite and Anti-Imperial
The authorâs bias is sharply directed against the "Billionaire Class" and "Western Imperialism."
Hostility to Capital: Posts like "The American Capitalist Class Wants Slavery Back" suggest a belief in a coordinated, malicious intent among business leaders. This is a Conspiratorial Bias that attributes systemic outcomes to the secret desires of a monolithic "elite" rather than complex market or political incentives.
Technological Grief: He displays a Luddite or Degrowth bias regarding technology, viewing the internet and modern tech as tools for hollowing out human experience rather than expanding it.
4. Intellectual Bias: Post-Rationalist Cynicism
While he uses logic and "logic-gated" structures (bullet points, clear headers), his conclusions are often Post-Rational.
He starts with the conclusion that the system is failing and selects "rational-sounding" arguments to support that pre-determined outcome. This is a classic form of Confirmation Bias tailored for an audience that values intellectual rigor but feels a deep emotional resonance with "doomsday" scenarios.
Summary of Bias Profile
Political Orientation: Far-Left / Revolutionary / Accelerationist.
Tone: Fatalistic, cynical, and clinical-pejorative.
Primary Lens: Power dynamics and systemic extraction.
Omissions: He rarely acknowledges improvements in global literacy, health outcomes, or poverty reduction that have occurred under the systems he critiques.
The Bottom Line: Oliver Kornetzkeâs Substack is a high-intensity polemic. It is not "news" or "neutral analysis"; it is a philosophical project designed to deconstruct the legitimacy of modern global systems. It is effective for understanding a specific branch of contemporary radical thought, but it is deeply non-objective.
Putting this latest piece from Oliver Kornetzke out there to hear people's take on it..
The global economy runs on extraction layered over perception. It is a machine that converts belief into valuation and valuation into power.
What we call markets increasingly resemble a recursive loop where assets are priced not for what they actually produce, but for what someone else can be convinced they will be worth later. Growth is no longer measured by usefulness or durability, but by the speed at which capital can reprice itself upward. The real economy, which consists of actual human labor, materials, infrastructure, and human effort, has become the substrate upon which a far larger financial fraud operates.
...
Cryptocurrency promised decentralization. It promised money without gatekeepers. The outcome has instead become hyper-financialization without any friction or transparency. Tokens detached from underlying productivity allow value to be completely manufactured through narrative velocity alone. Communities form around abstractions rather than anything of real utility, and with liquidity replacing all legitimacy. In other words, it is all a giant grift.
Crypto also provides something traditional finance typically restricts: mobility without accountability. Wealth can be routed through opaque structures, influence purchased through early allocations, and entire markets steered through coordinated manufacture of bogus sentiment rather than industrial or technological achievement. Those who embrace crypto sell the language of technological revolution to the masses while knowing the whole incentive structure is purely speculation amplified by anonymity. Again, no secret cabal is necessary. Itâs laundering made legal.
Systems evolve toward their strongest incentives. When creating tangible value is slower and riskier than engineering fake financial appreciation, capital predictably abandons production. When regulation trails innovation, opacity becomes an asset class onto itself. When wealth compounds faster than wages, ownership becomes exclusive and the primary motive while societal participation becomes illusory...
The unsettling truth that almost all of us know deep down, in one way or another, is that elites do not secretly or cleverly control everything. It is much simpler and more damning than that. The rules and architecture of the current global economic and financial system reward extraction so consistently and so ferociously, no different than a stage 4 cancer, that rational actors inevitably become extractive until all is exhausted and collapse occurs.
in other words, the capital markets, which were always meant to be about allocating financial resources to the most promising activities in the real economy, have been hijacked by their own narrative and divorced from the underlying real economy, chasing instead hyped-up stocks or entirely fabricated assets like crypto.
Bubbles like this are nothing new and usually pop. Just this current bubble appears bigger, systemic and kind of existential. Or am I just being too dramatic?
It's been a slow slide up until now. It started with the foundation of option trading in the 70s, which historically were used to hedge risk, not speculate, then 401ks that resulted in the growth of mutual funds...the financial markets primary purpose shifted from raising capital, for investing in capex, acquisitions, labor..., to speculation.
Sentiment, instead of valuation, started to drive prices...but as Peter Lynch once said, the fundamentals would come home to roost...like a drunk stumbling across a field - this truth is fading.
I dont throw crypto into this mix, any more than i might the growth of online gambling. Though allowing "prediction" markets like Kalshi on CFTC is a dangerous move.
Ai is obviously the new unknown variable and is accelerating this shift in funding from labor to capital.
Putting this latest piece from Oliver Kornetzke out there to hear people's take on it..
The global economy runs on extraction layered over perception. It is a machine that converts belief into valuation and valuation into power.
What we call markets increasingly resemble a recursive loop where assets are priced not for what they actually produce, but for what someone else can be convinced they will be worth later. Growth is no longer measured by usefulness or durability, but by the speed at which capital can reprice itself upward. The real economy, which consists of actual human labor, materials, infrastructure, and human effort, has become the substrate upon which a far larger financial fraud operates.
...
Cryptocurrency promised decentralization. It promised money without gatekeepers. The outcome has instead become hyper-financialization without any friction or transparency. Tokens detached from underlying productivity allow value to be completely manufactured through narrative velocity alone. Communities form around abstractions rather than anything of real utility, and with liquidity replacing all legitimacy. In other words, it is all a giant grift.
Crypto also provides something traditional finance typically restricts: mobility without accountability. Wealth can be routed through opaque structures, influence purchased through early allocations, and entire markets steered through coordinated manufacture of bogus sentiment rather than industrial or technological achievement. Those who embrace crypto sell the language of technological revolution to the masses while knowing the whole incentive structure is purely speculation amplified by anonymity. Again, no secret cabal is necessary. Itâs laundering made legal.
Systems evolve toward their strongest incentives. When creating tangible value is slower and riskier than engineering fake financial appreciation, capital predictably abandons production. When regulation trails innovation, opacity becomes an asset class onto itself. When wealth compounds faster than wages, ownership becomes exclusive and the primary motive while societal participation becomes illusory...
The unsettling truth that almost all of us know deep down, in one way or another, is that elites do not secretly or cleverly control everything. It is much simpler and more damning than that. The rules and architecture of the current global economic and financial system reward extraction so consistently and so ferociously, no different than a stage 4 cancer, that rational actors inevitably become extractive until all is exhausted and collapse occurs.
in other words, the capital markets, which were always meant to be about allocating financial resources to the most promising activities in the real economy, have been hijacked by their own narrative and divorced from the underlying real economy, chasing instead hyped-up stocks or entirely fabricated assets like crypto.
Bubbles like this are nothing new and usually pop. Just this current bubble appears bigger, systemic and kind of existential. Or am I just being too dramatic?
If you were wondering what moved the markets earlier this week.
A bit long and many not be able to follow it all...but i think you'll get the point.
If anyone still thinks its not a good idea to start taxing billionaires more....
Two years.Thatâs all it took to get from âcontainedâ and âsector-specificâ to an economy that no longer resembles the one any of us grew up in. This quarterâs macro memo is our attempt to reconstruct the sequence - a post-mortem on the pre-crisis economy.
The first negative feedback loop was in the real economy: AI capability improves, payroll shrinks, spending softens, margins tighten, companies buy more capability, capability improves. Then it turned financial: income impairment hit mortgages, bank losses tightened credit, the wealth effect cracked, and the feedback loop sped up. And both of these have been exacerbated by an insufficient policy response from a government that seems, quite frankly, confused.
The system wasnât designed for a crisis like this.
very interesting article, highly recommend.
There was also this related article on AI investing:
Big Techâs AI Push Is Costing a Lot More Than the Moon Landing
As a percentage of GDP, the projected 2026 spending of four tech giants rivals the most momentous capital efforts in U.S. history
Itâs bigger than the railroad expansion of the 1850s, the Apollo space program that put astronauts on the moon in the 1960s and the decadeslong build-out of the U.S. interstate highway system that ended in the 1970s.
Weâre talking about the data centers now being built and financed by some of the worldâs biggest companies in the artificial-intelligence boom.
It has become an increasingly expensive project, one that the companies finance with their billions of dollars in advertising, cloud and subscription revenue. And if you compare this spending to some of the biggest capital efforts in U.S. history by percentage of gross domestic product, you can see exactly how staggering the figures are.
In fact, itâs dwarfed only by the Louisiana Purchase, completed in 1803, which doubled the size of the U.S.
Well wait, the data is a bit mixed.
Overall inflation, housing and food costs (assume that is food at and away from home) were below wage growth.
Of course, medical care is way above...but for the majority, that should be baked in to their wages (it's not).
Childcare (something that used to be handled by family) and college (not everyone should attend) are of course issues.
College seems self inflicted, race to the top with more expensive buildings and departments, but what are the returns from those investments (not sure if the net is positive or negative)?
That explains a lot about the state of society. Everything of real value (health and education, food and housing) is getting priced off the budget and we make up for it with cheap entertainment and throw-away clothing.
Well wait, the data is a bit mixed.
Overall inflation, housing and food costs (assume that is food at and away from home) were below wage growth.
Of course, medical care is way above...but for the majority, that should be baked in to their wages (it's not).
Childcare (something that used to be handled by family) and college (not everyone should attend) are of course issues.
College seems self inflicted, race to the top with more expensive buildings and departments, but what are the returns from those investments (not sure if the net is positive or negative)?
nah, all good.
this is a highly aggregated set of data and I simply inferred from it a trend that tallies with other trends in society that are kind of hard to overlook.
No aspersions cast on the source of the data or his integrity.
And I'm also acutely aware that correlation is not causation so I could be way off the mark, but making observations is why people put data into a chart in the first place, so that is all I did.
Note that the average hourly wage is in there too, so the price of things would be better correlated to that.
i'm familiar with perry's work for decades
he's controversial in the fact that he calls out bad policy regardless of political belief systems
also, he has a long standing argument for smarter regulations (especially that favor production/human flourishing)
check his twitter thread or delve into some of his data driven positions
Because he looked a data and made a personal assessment?
If the underlying data is wrong, that's a reasonable objection, but the statement by NoEnz....
That explains a lot about the state of society. Everything of real value (health and education, food and housing) is getting priced off the budget and we make up for it with cheap entertainment and throw-away clothing.
is an observation of the data, not the analyst. Sure, Perry can cherry-pick the elements to include that reinforce his positions, but that doesn't make it bad data.
Not sure why you seem to suggest an agnostic calling out bad policy and intelligent regulations offends you. Could be I'm completely off base with your position here... by the why? followed by the reference to Perry feels negative.
well that is a new angle to RP debates.. 
