Notice the extra exclamation points, Mogumbo style, to convey extra importance.
I'll admit being one of those linear thinkers talked about in the above article. Must read if you want to know if hyper-inflation is coming, or not. I haven't been this excited about a "new" idea for some time. Read it, dammit!
Really nothing new under the sun, is there ?.......ReplyDelete
Doing better....slowly lol
Work prospects....yeah right .
Nobody hires turtles ha ha
Tho like you, it don't matter....that's what preps are for !
Gotta turn em over before they go bad any who .
Life is good !
All praise Lord Bison.
Surely a company needs a crippled white guy to fill a quota?Delete
Yah I'm thinking the proverbial old and slow security guard type thing.Delete
Don't believe I fall into that quota category ha ha...
Unless you're talking as a vet. Even then lots of sandbox types are getting all the sympathy these days. Us Nam ones are but forgotten history lol
I think he is missing big chunks of the puzzle. On the plus side he at least addresses some of the pre-modern issues. Austrian economics with the debt driven boom and bust is important because it also discusses how when demand collapses, the very money supply itself can shrink. For instance you the debt/savings money multiplier which is not the same thing as having more currency, but is very close. It comes from the fact that banks lend money out that they hold as deposits (less reserves). So in effect you have money that people effectively use in their bank account at the same time it has been lent to other people. And the people who it was lent to give it to other people, some of whom in turn put it in the bank, etc. It works fine so long as one group doesn't try to settle all their accounts at the same time (aka A bank run).ReplyDelete
Simply calling all of this demand-collapse is lumping too many disparate items in the same basket.
In general, I am suspicious of explaining boom-bust cycles as being part of a belief structure as there are other more concrete ways to explain them.
I'm thinking it was benificial as it steers any discussion into a new direction. Nobody was the 100% right answer, especially me. But we sure can use fresh perspective as the same tired crap ain't explaining anymore.Delete