Not "periodically". A reset that does not say "never again" is not a reset; it is just a distinctive wrench of the steering wheel. The only thing that could justify it would be universal acknowledgment that the entire paradigm was wrong. Never again.
> The only thing that could justify it would be universal acknowledgment that the entire paradigm was wrong.
"Acknowledgment" changes absolutely nothing, wrong paradigms are a dime a dozen, you'll get a fresh new one to pin your hopes on but it definitely, positively is going to be worse than the previous one.
The only way to change something for the better is to prevent default by appropriate legislation, FDR style - but rest assured, neither party is going to do anything remotely appropriate.
Defaults can be overt (failure to repay debt) or covert (simply a period of high inflation), therefore, default is the "suddenly" part of inflation surge, and inflation is a machine for transferring assets from those who still have some to those who have them (nearly) all.
This has happened numerous times in history, it's a refined process that includes seamless integration of trained media narratives and scripted government actions. I wish, I knew less about it.
NYT is simply moving the Overton window as required by the script.
I have a hard time talking about it because the banality of it is so boring, but I also understand that 97% of the people have no idea what I'm talking about, I'd like to hope this could change but I don't see how.
If they do reset it all, then I want to see several acknowledgment:
1. we ran out of other people's money
2. we probably shouldn't have abandonned convertibility to gold
3. goldbugs correctly saw it coming (and unlike in the past, this time we won't confiscate their holdings and moreover we promise, in the future, to never ever make fun of goldbugs)
> we probably shouldn't have abandonned convertibility to gold
I just wrote about the abundance of wrong economic paradigms and how easy it is to invent fresh new ones, each worse than the previous... and you put me to shame.
I totally forgot that we could recycle the old garbage (gold) as if nothing has ever happened. Shame on me.
Not "periodically". A reset that does not say "never again" is not a reset; it is just a distinctive wrench of the steering wheel. The only thing that could justify it would be universal acknowledgment that the entire paradigm was wrong. Never again.
> The only thing that could justify it would be universal acknowledgment that the entire paradigm was wrong.
"Acknowledgment" changes absolutely nothing, wrong paradigms are a dime a dozen, you'll get a fresh new one to pin your hopes on but it definitely, positively is going to be worse than the previous one.
The only way to change something for the better is to prevent default by appropriate legislation, FDR style - but rest assured, neither party is going to do anything remotely appropriate.
Defaults can be overt (failure to repay debt) or covert (simply a period of high inflation), therefore, default is the "suddenly" part of inflation surge, and inflation is a machine for transferring assets from those who still have some to those who have them (nearly) all.
This has happened numerous times in history, it's a refined process that includes seamless integration of trained media narratives and scripted government actions. I wish, I knew less about it.
NYT is simply moving the Overton window as required by the script.
I have a hard time talking about it because the banality of it is so boring, but I also understand that 97% of the people have no idea what I'm talking about, I'd like to hope this could change but I don't see how.
If they do reset it all, then I want to see several acknowledgment:
> we probably shouldn't have abandonned convertibility to gold
I just wrote about the abundance of wrong economic paradigms and how easy it is to invent fresh new ones, each worse than the previous... and you put me to shame.
I totally forgot that we could recycle the old garbage (gold) as if nothing has ever happened. Shame on me.
Is this also proposing the public execution of national leaders?