It might seem as if like our indestagflation theory may not be equal to events in the midterm: America and Britain are decoupling into defaltionary and inflationary collapse/ebullition, respectively, that is, apart. The indestagflation phenomena is too non-dialectical for the moment, and, talking to a friend yesterday, I am persuaded that the spaciality of Europe may favour a multidirection, neodiasporic euphoria that will crack any fears of right-wing resurgance.
So what will it mean, after all prices have been discovered as some form of "zero" and after all the write-downs are done with, if it is revealed that Far Western Europe (so excluding Germany) has an economy (and we can only use this word as a sarcophagus now) with money and "no" materiality, no thinginesses? (This is of course where it has been for perhaps fifty years, as becomes more and more clear.) I would argue that, in order to answer such a question (which is nothing less than the question of what a general deflation of services, on par with the general collapse of the industrial complex in the previous era, will look like), we had better watch rather than gaze or glance our way into a discussion of the artifacts at hand. Moreover, since it is precisley artifacts which will begin to show their lack so much more flirtatiously, even the notion of a process, irrupted as an evental subtraction, should be observed in play. Such watching gains a certain handy futurity at the loss of the specificity of memory, but, since the deflation of such an economy of loss is precisley what is at issue, we should not simply be anxious about this, even in Europe where the right haunts and animates so many "progressive" consciences. Everyone watch in any case, and even America watchs. For such observations, action, reaction, event, and becoming are as feckless as value, clarity, and nihilism.
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