05-07-2016, 09:54 AM
The latter part of the Unraveling brings about weak government that appeals to the vilest tendencies in business. That permissive government guts the old constraints on greed and financial recklessness, typically fostering an economic bubble that draws most capital away from more traditional and productive activities. Of course it is possible to make a fortune off shoe-string innovations in technology and entrepreneurship. So it was with fast food; so it has been with computer software. Real estate bubbles as in the 1920s and the Double-Zero decade depend upon huge quantities of Other People's Money.
If one is to invest Other People's Money, then one had better be careful. But financial caution is not the way of the latter part of a 3T. When the bubble bursts, then there isn't much left.
It's the bubble that does the damage; the inevitable financial panic is simply the recognition that the bubble has no foundation and that the assets poured into it have been wasted.
If one is to invest Other People's Money, then one had better be careful. But financial caution is not the way of the latter part of a 3T. When the bubble bursts, then there isn't much left.
It's the bubble that does the damage; the inevitable financial panic is simply the recognition that the bubble has no foundation and that the assets poured into it have been wasted.
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.