If I could make a small request, it would be to post the date the essay originally appeared on EconLog or wherever a little more clearly up top. When reading in email (not the site here) it appears that the post came out at the time the email was sent, not the original posting date, which makes things very confusing until one clicks through to the Bet On It Substack site. That makes the context of the article in time unclear when reading in email.
This argument is like arguing about waves in the ocean when a tsunami is on the way. Both sides have valid points -- and that's important to remember. Prices are so damn high because currency is cheap, and getting cheaper. The more inflated dollars the government injects into the economy by mandated spending: Social Security, Medicare for All, and whatever schemes they can pay us for to vote for them, the more these inflated dollars chase a slower growing pile of productivity.
There is an underground, stealth economy growing, and it's going to continue to grow because it's a flight to real value and real money. It's a private economy, and the billionaires and millionaires have already prepared to be part of it when the dollar collapses, which as you both know, it will.
It would be great if you got together and started to talk about real money instead of paper. That's my suggestion and I'm sticking to it.
If I could make a small request, it would be to post the date the essay originally appeared on EconLog or wherever a little more clearly up top. When reading in email (not the site here) it appears that the post came out at the time the email was sent, not the original posting date, which makes things very confusing until one clicks through to the Bet On It Substack site. That makes the context of the article in time unclear when reading in email.
Relying in those who are part of the problem is like trusting a back-stabber not to stab you again. We are Weimar in slow-mo.
This argument is like arguing about waves in the ocean when a tsunami is on the way. Both sides have valid points -- and that's important to remember. Prices are so damn high because currency is cheap, and getting cheaper. The more inflated dollars the government injects into the economy by mandated spending: Social Security, Medicare for All, and whatever schemes they can pay us for to vote for them, the more these inflated dollars chase a slower growing pile of productivity.
There is an underground, stealth economy growing, and it's going to continue to grow because it's a flight to real value and real money. It's a private economy, and the billionaires and millionaires have already prepared to be part of it when the dollar collapses, which as you both know, it will.
It would be great if you got together and started to talk about real money instead of paper. That's my suggestion and I'm sticking to it.
You are welcome to stick to your suggestion. However the paper and these subsequent arguments used real prices, not nominal ones.