Observation:
The most heralded book on Booms and Busts, This Time is Different by Reinhart and Rogoff.
Copyright 2009
http://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640
.....is frequently referred to by those who correctly called busts and had it right not long before in spite of the mocking of them: Druckenmiller, Roubini, Schiller. Mauldin appears to be judicious in not joining them as ardently, but I read his End Game in 2011 shortly after it came out; he is another drawing on the book. Mauldin I inferred has a thin veil between him and these others.
End of observation
Opinion that works for me (not necessarily for anyone else):
I find it premature (not wrong, but early) to be deriding those guys unless one can be certain of the incredible deleveraging required by (1) current leaders effectively beginning the process now, and (2) subsequent leaders continuing the process effectively, and of course (3) citizens allowing an effective process. All three have to exist in order to dodge uncomfortable decline in standard of living. Decline in standard of living has been occurring in the last two decades in abolute terms. In relative terms, we have accomodated ourselves to it gradually like the frog swimming in increasing heated pot of water. Advancement in technology our savior ? .... If only these above described modalities come in to existence.
End of opinion
SAVIOR (with their respective consequences):
default
austerity
inflation
growth
combination of the above in some alchemy that is effective
other ?
Oh........ and let's have more babies. That should be fun.
The most heralded book on Booms and Busts, This Time is Different by Reinhart and Rogoff.
Copyright 2009
http://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640
.....is frequently referred to by those who correctly called busts and had it right not long before in spite of the mocking of them: Druckenmiller, Roubini, Schiller. Mauldin appears to be judicious in not joining them as ardently, but I read his End Game in 2011 shortly after it came out; he is another drawing on the book. Mauldin I inferred has a thin veil between him and these others.
End of observation
Opinion that works for me (not necessarily for anyone else):
I find it premature (not wrong, but early) to be deriding those guys unless one can be certain of the incredible deleveraging required by (1) current leaders effectively beginning the process now, and (2) subsequent leaders continuing the process effectively, and of course (3) citizens allowing an effective process. All three have to exist in order to dodge uncomfortable decline in standard of living. Decline in standard of living has been occurring in the last two decades in abolute terms. In relative terms, we have accomodated ourselves to it gradually like the frog swimming in increasing heated pot of water. Advancement in technology our savior ? .... If only these above described modalities come in to existence.
End of opinion
SAVIOR (with their respective consequences):
default
austerity
inflation
growth
combination of the above in some alchemy that is effective
other ?
Oh........ and let's have more babies. That should be fun.
