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Is it a case of a broken clock etc... or someone who always predicts downturns will eventually be right? Hi seems pretty sensible in that other clip though. Th
by michaelneale 18y ago
Is it a case of a broken clock etc... or someone who always predicts downturns will eventually be right?
Hi seems pretty sensible in that other clip though. The US has to make and export "stuff" so that "other stuff" can be consumed from the rest of the world.
- DenisM 18y agoFor me it's a case of "we've discussed this stuff among friends, but housing kept going up so what do we know?" and then finding out some serious guy has the same opinion and we were right. I guess I could be a broken clock too. :) All the stuff on the old video is fundamental economics stuff. It was also a heresy in that no one dared to think about it, much less talk. It makes sense and it did make sense to me back then. Of course I was also doubting my perception because everyone was like "Eehaw! Party!" for a few years. Listen to the last video - what he says is outrageous. He is not talking about recession, he talks about the end of the American domaination by way of overspending. It's heresy of unimaginable magnitude. It also makes a lot sense. It's truly frightening.
- michaelneale 18y agoWell I just assume I have no idea what I am talking about or what is going on. In the past that has proved to be true. Yes it kinda is heresy - but he says you have to make stuff - which I think is (long term) really an optimistic thing to say. You can tell he really wants the US to return to a country that makes stuff, that produces things that make it wealthy, not meta-stuff (which I guess it is now). He specifically mentions manufacturing.
- sown 18y agoSomeone once wrote a book on this sort of thing: http://en.wikipedia.org/wiki/The_Rise_and_Fall_of_the_Great_Powers http://en.wikipedia.org/wiki/The_Rise_and_Fall_of_the_Great_...