4 ms·
You can be or you can do. Right now we're in a phase (with lots of cheap money) where it's better to be. When the money becomes harder to scratch out it'll be
by spitfire 10y ago
You can be or you can do. Right now we're in a phase (with lots of cheap money) where it's better to be.
When the money becomes harder to scratch out it'll be better to be able to do.
I like this quote by John Boyd, who wrote the book on aerial combat.
“Tiger, one day you will come to a fork in the road,” he said. “And you’re going to have to make a decision about which direction you want to go.” He raised his hand and pointed.
“If you go that way you can be somebody. You will have to make compromises and you will have to turn your back on your friends. But you will be a member of the club and you will get promoted and you will get good assignments.”
Then Boyd raised his other hand and pointed another direction. “Or you can go that way and you can do something – something for your country and for your Air Force and for yourself. If you decide you want to do something, you may not get promoted and you may not get the good assignments and you certainly will not be a favorite of your superiors. But you won’t have to compromise yourself. You will be true to your friends and to yourself. And your work might make a difference.”
He paused and stared into the officer’s eyes and heart. “To be somebody or to do something. In life there is often a roll call. That’s when you will have to make a decision. To be or to do. Which way will you go?"
- eldavido 10y agoWhat will cause the cheap money to end? From where I'm sitting, I see zero inflation, a federal reserve that's happy to keep buying assets to stimulate growth, a sluggish economic recovery that's led to 1-2% growth in the US, meanwhile 50% growth in aggregate household nominal wealth since 2010 (that's from the fed's survey of consumer finances) so everyone with home equity and stocks feels rich, and bigger-than-ever VC fundraising from LPs. I'm gonna get back to work now, but, as much as I'd like this phase of ZIRP-driven asset price inflation and general ethos of cheap money/greed to end, I just really don't see it, at least not in the next 10 years. Please, tell me I'm wrong, I want to be, I just don't see it.
- elgabogringo 10y agoI think we see a top in the stock market and asset price inflation in the next 6-12 months. What comes after is sort of TBD. Eventually we'll have real growth (and likely a lot of inflation with it), but what happens between now and then, how long it takes, how bad it gets, is TBD. All in my humble opinion.
- emp_zealoth 10y agoWell, the growth simulation with fake money leads to sub-optimal decisions in the finance world. I don't think policy change will come from genuine improvement of economic conditions but from let's say Deutche Bank blowing up (or something like that). Let's not forget that apparently there is ~quadrilion dollars worth of derivatives in the wild (it's hard to find reliable info)