{"id":30688,"date":"2025-11-23T02:11:26","date_gmt":"2025-11-23T01:11:26","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=30688"},"modified":"2025-11-23T16:59:23","modified_gmt":"2025-11-23T15:59:23","slug":"capitalism-morbid","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/financialization\/capitalism-morbid","title":{"rendered":"Capitalism: Final Necrosis"},"content":{"rendered":"<p data-start=\"95\" data-end=\"397\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-30684\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/labubu.jpg?resize=1170%2C658&#038;ssl=1\" alt=\"\" width=\"1170\" height=\"658\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/labubu.jpg?w=1900&amp;ssl=1 1900w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/labubu.jpg?resize=300%2C169&amp;ssl=1 300w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/labubu.jpg?resize=1024%2C576&amp;ssl=1 1024w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/labubu.jpg?resize=768%2C432&amp;ssl=1 768w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/labubu.jpg?resize=1536%2C864&amp;ssl=1 1536w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/labubu.jpg?resize=1140%2C641&amp;ssl=1 1140w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/labubu.jpg?resize=1200%2C675&amp;ssl=1 1200w\" sizes=\"(max-width: 1170px) 100vw, 1170px\" \/><\/p>\n<p data-start=\"227\" data-end=\"537\">Toys, sneakers, weather, elections, friendships: everything can now become a speculative asset. Everyday life is turning into a perpetual market where use matters less than probability. At the heart of this shift lies one certainty: nothing really has value anymore if it becomes possible to bet on everything.<\/p>\n<p data-start=\"539\" data-end=\"976\"><strong data-start=\"539\" data-end=\"590\">Predictive markets: the new religion of numbers<\/strong><\/p>\n<p data-start=\"539\" data-end=\"976\">Capitalism is dying under the weight of its own excesses. Its new, tangible reality manifests itself through absurd distortions that turn daily life into a giant casino. The most trivial objects become instruments of financial speculation. Its decline is accelerated by automation, artificial intelligence, and unrestrained financialization that cannibalizes everything\u2014and everyone.<\/p>\n<p data-start=\"978\" data-end=\"1231\">In 2025, speculators <em>no longer need to buy a product to take part in this global game in which everything is objectified, absolutely and totally, and where culture is nothing more than a trading algorithm. Because today everything is monetized\u2014even fun.<\/em><\/p>\n<p data-start=\"1233\" data-end=\"1440\">With an annual volume estimated this year at 50 billion, markets dedicated to prediction now rival traditional stock exchanges. Except that when everything is \u201c<em>tradable<\/em>,\u201d nothing has intrinsic value anymore.<\/p>\n<p data-start=\"1442\" data-end=\"1803\">Take Kalshi, a platform regulated by the CFTC (Commodity Futures Trading Commission), which allows users to trade \u201c<em>event contracts<\/em>.\u201d These binary contracts are bought between 1 and 99 cents depending on perceived probability. Sixty cents for \u201cyes\u201d equates to a 60% chance: if the event occurs, your contract is worth one dollar; otherwise, it expires worthless.<\/p>\n<p data-start=\"1805\" data-end=\"1859\">A few examples to illustrate this organized absurdity:<\/p>\n<p data-start=\"1861\" data-end=\"2026\">\u201cWill Republicans control the House of Representatives after the 2026 midterms?\u201d<br data-start=\"1941\" data-end=\"1944\" \/>Current price: ~55 cents for \u201cyes.\u201d<br data-start=\"1979\" data-end=\"1982\" \/>Volume: more than 10 million dollars traded.<\/p>\n<p data-start=\"2028\" data-end=\"2117\">\u201cWill Taylor Swift be <em data-start=\"2050\" data-end=\"2056\">Time<\/em>\u2019s Person of the Year in 2025?\u201d<br data-start=\"2087\" data-end=\"2090\" \/>Price: ~15 cents for \u201cyes.\u201d<\/p>\n<p data-start=\"2119\" data-end=\"2212\">\u201cWill <em data-start=\"2125\" data-end=\"2133\">Wicked<\/em> have a Rotten Tomatoes score above 80% in 2025?\u201d<br data-start=\"2182\" data-end=\"2185\" \/>Price: ~85 cents for \u201cyes.\u201d<\/p>\n<p data-start=\"2214\" data-end=\"2313\">\u201cWill New York experience more than 10 days above 35\u00b0C in July 2026?\u201d<br data-start=\"2283\" data-end=\"2286\" \/>Price: ~30 cents for \u201cyes.\u201d<\/p>\n<p data-start=\"2315\" data-end=\"2439\"><strong data-start=\"2315\" data-end=\"2348\">Speculation colonizes objects<\/strong><\/p>\n<p data-start=\"2315\" data-end=\"2439\">The market spares nothing.<br data-start=\"2377\" data-end=\"2380\" \/>Sneakers, for instance, are no longer worn: they\u2019re traded.<\/p>\n<p data-start=\"2441\" data-end=\"2552\">\u201cWill the Jordan 1 Retro High OG exceed 250 dollars on StockX one week after its release on November 29, 2025?\u201d<\/p>\n<p data-start=\"2554\" data-end=\"2620\">Price: ~65 cents for \u201cyes.\u201d Volume: 5 million dollars in 24 hours.<\/p>\n<p data-start=\"2622\" data-end=\"2662\">Toys are turning into derivative assets.<\/p>\n<p data-start=\"2664\" data-end=\"3076\">Labubu figurines?<br data-start=\"2681\" data-end=\"2684\" \/>A PVC toy turned into an asset more liquid than many publicly traded stocks. A rare Labubu (\u201cSecret\u201d Big Into Energy) sold for 28,000 dollars.<br data-start=\"2826\" data-end=\"2829\" \/>Forty-eight-hour lines in front of Shanghai\u2019s Pop Mart stores, filmed scuffles over a 60-euro box, contracts speculating on the average prices of the \u201cExciting Macaron\u201d series: the feverish micro-economy of a cute monster turned financial product.<\/p>\n<p data-start=\"3078\" data-end=\"3169\"><strong>We no longer own the object. We own the probability that someone else will pay more for it.<\/strong><\/p>\n<p data-start=\"3171\" data-end=\"3254\"><strong data-start=\"3171\" data-end=\"3204\">Finance swallows the intimate<\/strong><\/p>\n<p data-start=\"3171\" data-end=\"3254\">Speculative excesses eat away even at intimacy.<\/p>\n<p data-start=\"3256\" data-end=\"3391\">People bet on hurricanes, bankruptcies, layoffs.<br data-start=\"3304\" data-end=\"3307\" \/>Access to one\u2019s private life, relationships, emotions is sold\u2014through subscriptions.<\/p>\n<p data-start=\"3393\" data-end=\"3578\">Apps let you \u201c<em>rent a friend<\/em>.\u201d<br data-start=\"3422\" data-end=\"3425\" \/>Influencers charge for attending children\u2019s birthday parties.<br data-start=\"3486\" data-end=\"3489\" \/>Friendship can be bought by the hour through RentAFriend: <em>20 dollars for a staged coffee<\/em>.<\/p>\n<p data-start=\"3580\" data-end=\"3855\"><strong data-start=\"3580\" data-end=\"3605\">BNPL: continuous debt<\/strong><\/p>\n<p data-start=\"3580\" data-end=\"3855\">It is the reign of BNPL: \u201c<em>Buy Now, Pay Later<\/em>.\u201d<br data-start=\"3654\" data-end=\"3657\" \/>Klarna, Afterpay and others turn the most mundane purchases into micro-loans.<br data-start=\"3734\" data-end=\"3737\" \/>A T-shirt, a sandwich, makeup: everything becomes debt.<\/p>\n<p data-start=\"3580\" data-end=\"3855\">Young people are urged to go into debt starting at 20 euros.<\/p>\n<p data-start=\"3857\" data-end=\"3937\"><em>Borrow 20 euros for a sandwich you\u2019ll pay off over six months with 15% interest.<\/em><\/p>\n<p data-start=\"3939\" data-end=\"4034\"><strong data-start=\"3939\" data-end=\"3968\">The lifetime subscription<\/strong><\/p>\n<p data-start=\"3939\" data-end=\"4034\">Your car has heated seats? You must subscribe to activate them.<\/p>\n<p data-start=\"4036\" data-end=\"4134\">Your Tesla brakes less strongly\u2014as long as you haven\u2019t paid for the \u201cpremium acceleration\u201d option.<\/p>\n<p data-start=\"4136\" data-end=\"4230\">At iRobot, Roomba vacuums map your living room, but refuse to do so without a paid cloud plan.<\/p>\n<p data-start=\"4232\" data-end=\"4353\">In Mumbai, an 80% annual microloan forces a family to mortgage their goat; repossessed, the family sleeps under a bridge.<\/p>\n<p data-start=\"4355\" data-end=\"4424\"><em>You bought the object?<\/em><br data-start=\"4377\" data-end=\"4380\" \/><em>Well, now you must rent the right to use it.<\/em><\/p>\n<p data-start=\"4426\" data-end=\"4474\">\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014-<\/p>\n<p data-start=\"4476\" data-end=\"4820\">As speculation infiltrates objects, relationships, and emotions, it also roots itself in our imagination. It redefines what we once considered normal, practical, inevitable. Each imposed subscription, each micro-loan disguised as a service, each probability contract applied to reality shifts a boundary\u2014imperceptibly, through continuous drift.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Toys, sneakers, weather, elections, friendships: everything can now become a speculative asset. Everyday life is turning into a perpetual market where use matters less than probability. At the heart of this shift lies one certainty: nothing really has value anymore if it becomes possible to bet on everything. Predictive markets: the new religion of numbers&hellip;<\/p>\n","protected":false},"author":4,"featured_media":30685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[648943077,648943076,648943074,648943075],"tags":[],"class_list":["post-30688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-algorithmic-capitalism","category-commodification","category-financialization","category-speculation-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Capitalism: Final Necrosis - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/financialization\/capitalism-morbid\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capitalism: Final Necrosis - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"Toys, sneakers, weather, elections, friendships: everything can now become a speculative asset. 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Collusion between political and economic powers has now become obvious, and it is of public notoriety that employment is nothing more than an adjustable variable in today\u2019s capitalism. 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