Our economic systems were built for a pre-technology era when labour and capital were inextricably linked, an era that counted on growth and inflation, an era where we made money from inefficiency. These advances bring efficiency and abundance-and they are profoundly deflationary. Technological advances are happening at a rate faster than our ability to understand them, and in a world that moves faster than we can imagine, we cannot afford to stand still. The Price of Tomorrow: Why Deflation is the Key to an Abundant Future Jeff Booth, Stanley Press, January 14, 2020 What if it does not? Germany in 1923 provides a vivid, compelling, sobering moral tale. … Whatever the reason for a country’s deficit - necessity or profligacy, unwillingness to tax or blindness to expenditure - it is beguiling to suppose that if the day of reckoning is postponed economic recovery will come in time to prevent higher unemployment or deeper recession.
However, “quantitative easing,” that modern euphemism for surreptitious deficit financing in an electronic era, can no less become an assault on monetary discipline. Germany’s finances descended into chaos, with severe social unrest in its wake.Money may no longer be physically printed and distributed in the voluminous quantities of 1923. People watched helplessly as their life savings disappeared and their loved ones starved. Expensive cigars, artworks, and jewels were routinely exchanged for staples such as bread a cinema ticket could be bought for a lump of coal and a bottle of paraffin for a silk shirt. In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy. When Money Dies is the classic history of what happens when a nation’s currency depreciates beyond recovery. What Went Wrong at Vogtle? feat.When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany Adam Fergusson, PublicAffairs, October 12, 2010 Something's Rotten with French Nuclear- Decouple Podcast The Story of Storage (Mark Nelson Masterclass) - Decouple Podcast Kirk Sorensen: Thorium, an alternative nuclear fuel
Erik and Mark start with a brief history of the industry, then talk about both real and perceived problems with nuclear power, before moving on to discuss advanced nuclear technologies including small modular nuclear reactors, molten salt cooled reactors and Thorium-fuelled nuclear reactors. In this first part of holiday special, MacroVoices welcomes nuclear engineer Mark Nelson to the show to discuss all things nuclear.
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✅Sign up for a FREE 14-day trial at Big Picture Trading: ⭐️Join Patrick for a LIVE webinar on Tuesday July 25th at 1pm ET⭐️ĭownload Big Picture Trading chartbook 📈📉 They also discuss inflation, why the macro backdrop has changed considerably, and finally, China’s recovery and why it didn’t have the expected effect on global demand recovery. MacroVoices Erik Townsend and Patrick Ceresna welcome 42 Macro founder Darius Dale to the show to discuss what the bears got wrong, why Darius thinks there’s still some upside left in the stock market, before it ultimately reverses direction to vindicate the bears.
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