Hypernormalisation Transcript
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Hypernormalisation Transcript
@hypertranscript.bsky.social
The BBC's Adam Curtis told us how we should understand our recent past. It's not what we were told or remember, but was he wrong?

HyperNormalisation was his first BBC release. It's on iPlayer in the UK and YouTube outside the UK.

This is the transcript.
The city had to agree because they were desperate, and the banks, seeing a new opportunity, also started to lend him money.

And Donald Trump began to transform New York into a city for the rich, while he paid practically nothing.
February 24, 2025 at 10:03 PM
Trump started to buy up derelict buildings in New York and he announced that he was going to transform them into luxury hotels and apartments.

But in return, he negotiated the biggest tax break in New York's history, worth $160 million.
February 24, 2025 at 10:03 PM
One of them wrote of that time:

"It was the mood of the era and the revolution was deferred indefinitely.

"And while we were dozing, the money crept in."
February 22, 2025 at 10:56 PM
But some of the Left saw that something else was really going on - that by detaching themselves and retreating into an ironic coolness, a whole generation were beginning to lose touch with the reality of power.
February 22, 2025 at 10:56 PM
They believed that instead of trying to change the world outside the new radicalism should try and change what was inside people's heads, and the way to do this was through self-expression, not collective action.
February 22, 2025 at 10:56 PM
They didn't try and change it.

They just experienced it.

Instead, radicals across America turned to art and music as a means of expressing their criticism of society.
February 22, 2025 at 10:56 PM
What she was describing was the rise of a new, powerful individualism that could not fit with the idea of collective political action.

Instead, Patti Smith and many others became a new kind of individual radical, who watched the decaying city with a cool detachment.
February 22, 2025 at 10:56 PM
The singer Patti Smith later described the mood of disillusion that had come over them.

"I could not identify with the political movements any longer," she said.

"All the manic activity in the streets.

"In trying to join them, I felt overwhelmed by yet another form of bureaucracy."
February 22, 2025 at 10:56 PM
But the extraordinary thing was no-one opposed the bankers.

The radicals and the left-wingers who, ten years before, had dreamt of changing America through revolution did nothing.

They had retreated and were living in the abandoned buildings in Manhattan.
February 22, 2025 at 10:56 PM
They were just the representatives of something that couldn't be negotiated with - the logic of the market.

To them, there was no alternative to this system.

It should run society.
February 22, 2025 at 10:56 PM
The bankers enforced what was called "austerity" on the city, insisting that thousands of teachers, policemen and firemen were sacked.

This was a new kind of politics.

The old politicians believed that crises were solved through negotiation and deals.

The bankers had a completely different view.
February 22, 2025 at 10:56 PM
Out of nine members, eight of them were bankers.

It was the start of an extraordinary experiment where the financial institutions took power away from the politicians and started to run society themselves.

The city had no other option.
February 22, 2025 at 10:56 PM
What happened that day in New York marked a radical shift in power.

The banks insisted that in order to protect their loans they should be allowed to take control of the city.

The city appealed to the President, but he refused to help, so a new committee was set up to manage the city's finances.
February 22, 2025 at 10:56 PM
The banks were supposed to turn up at 11am, but it soon became clear that none of them were going to appear.

The meeting was rescheduled for 2pm and the banks promised they would turn up.
February 22, 2025 at 10:56 PM
"Good morning, ladies and gentlemen.

Today, the city of New York is offering for competitive bidding the sale of 260 million tax anticipation notes, of which 100 million will mature on June 3rd, 1975."
February 22, 2025 at 10:56 PM
And then one day in 1975, the banks just stopped.

The city held its regular meeting to issue bonds in return for the loans, overseen by the city's financial controller.
February 22, 2025 at 10:56 PM
But in the early '70s, the middle classes fled from the city and the taxes they paid disappeared with them.

So, the banks lent the city even more.

But then, they began to get worried about the size of the growing debt and whether the city would ever be able to pay it back.
February 22, 2025 at 10:56 PM
In 1975, New York City was on the verge of collapse.

For 30 years, the politicians who ran the city had borrowed more and more money from the banks to pay for its growing services and welfare.
February 22, 2025 at 10:56 PM
But this retreat into a dream world allowed dark and destructive forces to fester and grow outside.

Forces that are now returning to pierce the fragile surface of our carefully constructed fake world.
February 22, 2025 at 9:44 PM
Even those who thought they were attacking the system - the radicals, the artists, the musicians, and our whole counterculture - actually became part of the trickery, because they, too, had retreated into the make-believe world, which is why their opposition has no effect and nothing ever changes.
February 22, 2025 at 9:44 PM
And as this fake world grew, all of us went along with it, because the simplicity was reassuring.
February 22, 2025 at 9:44 PM
It is about how, over the past 40 years, politicians, financiers and technological utopians, rather than face up to the real complexities of the world, retreated.

Instead, they constructed a simpler version of the world in order to hang on to power.
February 22, 2025 at 9:44 PM
Yet those in control seem unable to deal with them, and no-one has any vision of a different or a better kind of future.

This film will tell the story of how we got to this strange place.
February 22, 2025 at 9:44 PM