According to Kenneth Rogoff, of G30, austerity has been in the cards for some time now. Shows up in economies at civilization length levels, shows up in shorter term events within single nations. Despite his flub with Excel back in 2008, he’s pretty reliable when it comes to central banks. He wrote “This Time it’s Different”…. – and shows that, no, it’s not.

According to Kenneth Rogoff, of G30, austerity has been in the cards for some time now. Shows up in economies at civilization length levels, shows up in shorter term events within single nations.

Despite his flub with Excel back in 2008, he’s pretty reliable when it comes to central banks. He wrote “This Time it’s Different”…. – and shows that, no, it’s not.

Trading fantasies for fantasies mostly. Collective illusion but it keeps them busy.
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Yes, indeed. All artificial. Bubble. I feel bad for honest investors who don’t understand how it works but it is a dangerous game and it pays to be wise.

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t _can_ but only if scaffolding is built underneath on time before the bubble bursts.

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One of the problems with the American market is that it is growth oriented, even the fundamentals are gauged on potential growth which, to me, is not what a fundamental should be.

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I can imagine an amazing beautiful chart of that It would require several simultaneous immersive holograms to achieve along with other-than-visual senses to absorb it all simutaneously but I can imagine it.

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The original idea might not be sound but based on the opportunity for profit without negative consequences. This is what you see when investing starts off based on a personality cult.This is what I think you see in the case of the USA 2017-today.
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 With the USA, Those who believed that Trump was a good businessman did not actually check to see if he was a good businessman. They trusted his word.
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 I know you’re not only talking about Trump :) But it’s important to mention as a single man captured the imagination of many millions of investors, who didn’t stop to pay attention to HIS fundemantals.But what you’re talking about, yes, I understand Unicorn CEOs.I would say that, starting with “dot com” in the late 1990s through to today, it’s very common for “startups” to simply be one or two people with an idea that they present to venture capitalists in hopes to secure financing for a project that ends up not working.Over the past 10 years I think it’s shifted from venture capitalists to crowdfunding and your ability to acquire funding depends upon your ability to create entertaining videos showing your fantasy product or service as well as standard “stay in contact with customer” tools, “creating a brand”, and basically starting a cult around your company or potential product.
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  The “self-made millionaire” is such a pervasive myth that people are quick to believe it. It is a part of every wealthy person’s story when they are selling themselves.“I had things hard. [gives examples of what was difficult for them]. But by myself, I did [this small thing]. That [small thing] became a [bigger thing]. And now look at me today.”
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 This one man’s ideas really made us who we all are today.
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 t’s not that you didn’t have PT Barnums and religious Tent Revivals and such before him, but he really turned it into a science that businesses and politicians still use – marketing / propaganda / public relations are all the same, all from him. We’re used to it and almost can’t imagine a world without it.
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  We’re all interconnected. Invisible hand of the market doesn’t work though. Needs human intervention.
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Nota Bene:
Invisible Hand of the Market doesn’t work. Needs human intervention. Shift your political beliefs accordingly. Thank you.
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