Burnout makes everyone uncomfortable, so it’s largely a silent epidemic.
The decline phase of S-Curves can be gradual or a cliff-dive.
All these curveballs will further fragment the housing market.
The casino has become complex and there are no easy answers or predictable paths.
I’m simply pointing out “money” isn’t simple, and “backing money with X” leads to questions about the nature of “money,” collateral and the fluidity and complexity of the social construct we call “money.”
Those glancing at the appearances will be assured all is well and it will all sort itself out. Those who look behind the screen will move away as fast as they can.
What if all the new consensus memes are as wrong as the ones they replaced?
We are all prone to believing the recent past is a reliable guide to the future. But in times of dynamic reversals, the past is an anchor thwarting our progress, not a forecast.
All of these similarities and differences are setting up a sea-change revaluation of capital, resources and labor that will be on the same scale as the extraordinary transitions of the 1920s and 1970s.
The awakening of inflation after decades of slumber has triggered a flurry of comparisons to the 1970saccompanied by a chorus of projections for 1970s-type stagflation, defined as inflation plus economic stagnation– limited or negative growth and high unemployment.
This may be one of many revaluations of capital vis a vis labor and resources and core vis a vis periphery.
