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That makes sense, and I feel like copying the first part that is a general prediction of what is to come in the economy and send it to friends and family who su
by mark_l_watson 7y ago
That makes sense, and I feel like copying the first part that is a general prediction of what is to come in the economy and send it to friends and family who suffer from too much optimism on the economy recovering quickly. I am retired (ha!) but even so I have had his book High Growth Handbook in my book buying wish list for along while.
Sorry for being off topic and sorry for the following rant, but I think that the whole world is starting a permanent process of change/upheaval and not all results will be bad. I expect cruft like stupid consumer buying of needless shit to slow down, people and institutions will increasingly cherish strength and long term viability. In the recent sickness of neoliberalism (basically more rights for corporations than people) my hope is that there will be more investments in people and training in ways that enhance technological progress. For years the world will be harsh for the ‘bottom 50%’ but we can hope for some sort of transformation.
- H8crilA 7y ago> For years the world will be harsh for the ‘bottom 50%’ but we can hope for some sort of transformation. All I want for Christmas [in 2020] is for that "bottom 50%" to not pick up pitchforks. Never forget serious tail risks. Will we still be using the same system of currency 5 years from now? Will entire stock markets become nationalized? Will we get true dictators in some "medium quality" countries or perhaps even in some "high quality" countries? Will China survive the massive lack of demand without political or military turmoil?
- mark_l_watson 7y agogood questions! I don't know the answers either.
- brenden2 7y agoI agree with you, and I hope you're right. The never ending growth and consumerism just for the sake of making the numbers go up isn't sustainable.
- deleted 7y ago[deleted]