Thinking of shorting an overvalued stock market? Central banks can print money far longer than you can remain solvent.https://twitter.com/RudyHavenstein/status/941755222472368128 …
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Money supply likely to increase 4-6% a year over next 10 -50 years. Based on present value, it won’t matter (much) if I spread it out vs print it all in year 1. More extreme = if I print $10T tomorrow but promise to tax it out of existence in 1 years time...then no inflation.
This preposterous pseudoscience confuses human behavior with physics. You can't actually predict any such things.
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Not confusing monetary policy w/ physics and agree its definitely not down to 18 decimal places...but throwing hands up in air and saying its entirely unpredictable isn’t a solution either. Even w/ competing currencies, this type of thought process would be helpful
@GeorgeSelgin -
It's not a solution but it is the reality.
End of conversation
New conversation -
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