Friday, March 27, 2009

More Collapse

In THE HANDBOOK OF POETIC LANGUAGE, Stan Apps discusses poetry as a format of writing that becomes "unsuccessful language" and "meaning is a commodity." In a downturn, money -- and not just the dollar -- loses all value in any communicative/exchangeable value it may have. In a downturn, money becomes poetic. What's interesting about this downturn -- compared with other, non-globalized whimpy whimpy downturns -- is that it won't be just the dollar, but all currencies. We won't only be dealing with a devaluation of one country's currency (Oh, how cute! Old fashioned US Dollars!) but of them all. Currency, as a idea backed by a standard (federal banks, money presses, etc) becomes poetic, or unsuccessful.

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