Babies are still the ultimate long-term investmentpic.twitter.com/pLonQp9Hrh
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Cheap capital is great! But capable labor and good ideas generate cheap capital. Cheap capital generates opportunities to better utilize capable labor and good ideas, but it doesn't create the humans who provide themhttps://twitter.com/webdevMason/status/1168375858832084992?s=20 …
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What does lots of cheap capital *actually* mean? It means you have lots of stored value you can't easily put to use. You have fewer capable people with good ideas competing more easily for a larger pot. Great for the capable individual, but for the society? Not so much
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See Julian Simon.
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The bottleneck is economic demand due to imbalanced international trade and budgetary austerity.
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