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This too shall pass. Also a recession is a cleansing thing (Austrian school). A lot of unproductive people will be fired and a lot of stupid projects will be s
by H8crilA 7y ago
This too shall pass.
Also a recession is a cleansing thing (Austrian school). A lot of unproductive people will be fired and a lot of stupid projects will be shut down, creating space for new ventures. You should take risks exactly during the time of a recession, not during the time of market & general confidence all time highs. Same with young age - take risks when you're young and your downside is small.
But it ain't going to be easy.
(contingent on the recession actually materializing).
- __s 7y agoFor a novel that romanticizes this idea that recessions are the time to take risks, see The Driver by Garet Garrett
- H8crilA 7y agoAhh, the times of bimetallism. Bimetallism was the Bitcoin of the times, railroads were the "tech" of the times. Robert Shiller has a very entertaining comparative research between Bitcoin and bimetallism in his book Narrative Economics: https://youtu.be/QV0JrMV5nnc https://youtu.be/QV0JrMV5nnc
- scrupulusalbion 7y agoThanks for the recommendation! Here's a PDF version of it: https://mises.org/library/driver https://mises.org/library/driver
- castratikron 7y agoIt might actually make sense to work for sweat equity again.