I essentially agree with everything except this:
Because this new pattern of growth is driven primarily by government and not private enterprise, the usual careful prudence involved in investing large sums of money flies out the window.
Effectively, all systems that rely on infinite growth on this finite planet, whether due to imperialistic (see the great land reform crises of the Roman Republic) or capitalistic (as in this case) motives, are bound to self-destruct. I don't have any trust that private enterprise, which itself thrives on the "growth economy" myth, would act any more responsibly than governments that are also indirectly beholden to those ideas and the whims of private contractors, which is where this leads me in a socialist direction rather than a libertarian direction. Market economies have no means of establishing homeostasis and are thus inevitably a series of bubbles and collapses that cause great material harm to all that they exploit and harvest. This is why the emergence of nominally "culturally left" figures who want to "save capitalism from itself" and restore its gee-whiz founding mythology like Ro Khanna and Andrew Yang has been so chilling for me, as it's their desire to take all teeth away from any movement away from these destructive falsehoods and instead rebrand "end of history" perpetual motion nonsense as progressive.
What machinations of capitalism
aren't Ponzi schemes, then?
