Doug Casey And The Greater Depression
I don't know when I first read a reference to a greater depression.
It is a safe guess that I did not invent the phrase "Greater Depression." It is also a distinct possibility that I read it first from one of Doug Casey's best selling investment books. The phrase has seemingly been around for decades.
The concept though is sound.
Depressions are caused by egotistic government officials thinking they can control a complex system like the economy with a few poorly understood tools. Their ignorance, and a firm belief that they know how to run your life better than you, leads them to pursue power. That power perverts their judgment even further as they pursue financial manipulations - and the rewards they think they have earned.
Governments today can make larger errors than their predecessors, and can also compound those same errors faster. These are dangerous and interesting times - it is unlikely we will muddle through successfully.
Back to the potential for a greater depression.
Doug has shared with us his views on a coming unpleasantness and a possible greater depression. He is of course more balanced in his delivery than myself - but the point is much the same. Reading of his ideas is highly recommended.
One of our standard speculation rules is: inevitable does not imply immediate.
Eventually the inevitable will happen.
It is time to prepare - just in case.
.
It is a safe guess that I did not invent the phrase "Greater Depression." It is also a distinct possibility that I read it first from one of Doug Casey's best selling investment books. The phrase has seemingly been around for decades.
The concept though is sound.
Depressions are caused by egotistic government officials thinking they can control a complex system like the economy with a few poorly understood tools. Their ignorance, and a firm belief that they know how to run your life better than you, leads them to pursue power. That power perverts their judgment even further as they pursue financial manipulations - and the rewards they think they have earned.
Governments today can make larger errors than their predecessors, and can also compound those same errors faster. These are dangerous and interesting times - it is unlikely we will muddle through successfully.
Back to the potential for a greater depression.
Doug has shared with us his views on a coming unpleasantness and a possible greater depression. He is of course more balanced in his delivery than myself - but the point is much the same. Reading of his ideas is highly recommended.
One of our standard speculation rules is: inevitable does not imply immediate.
Eventually the inevitable will happen.
It is time to prepare - just in case.
.
posted by BFuniv at 9:38 PM
2 Comments:
its scary to think that in this day and age, a greater depression could occur..but given the fact that, like you said, governments nowadays are bigger and can make more mistakes on top of mistakes..it seems only logical that we should all prepare ourselves for the inevitable.
Thanks for the comment.
In 1929 they thought in that day and age they should not have a financial panic like in 1907.
After all they had created the modern Federal Reserve in 1913. They knew they had sophisticated tools.
Instead the federal reserve created the imbalances that led to something worse than 1907.
We just think we are modern - we may still functionally be in the dark ages.
we B ignernt
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