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The boom and bust cycle has required things like 2008, COVID, major wars, Brexit to create these booms and busts.
by intended 2y ago
The boom and bust cycle has required things like 2008, COVID, major wars, Brexit to create these booms and busts.
- jaggederest 2y agoOther centuries must have been remarkably peaceful, since by your assertion they did not have bubbles, pandemics, wars, or geopolitical schisms...? It's enough to say that fiat currency, fiscal and monetary policy have papered over the worst of the excesses and explosions, you don't need to pretend like we live in unique times. Every time is unique, but history rhymes.
- intended 2y ago??? The previous argument was on the pace of boom and bust cycles. This argument is on their existence. We don't even have the same kinds of boom and bust cycles. There is no dustbowl, and we've recovered from incredible calamites well compared to the disasters in the past. Spain hasn't ended up destroying its entire wealth by finding too much wealth for example. I'm making the mistake of getting into detail with a point that is so out of bounds, its in "not even wrong" territory.
- hot_gril 2y ago2008 and 2000 were caused by our own bubbles and not outside forces.