I was actually just kidding about shutting down this blog. Got you! I’m involved in another project wherein I’m writing things. I had to write a particular piece, and though what I’m about to post isn’t quite what is needed for that project, it’s close. I though I’d post this, meandering pre-edit version here as I think I made some good points.
A common economic sophism one sees, both in the fringe ‘tin foil hat’ parts of the economic media (Zero Hedge and internet Austrian outlets), as well as the more respectable platforms, is an assertion that current production levels are somehow unsustainable. These arguments are buttressed by sentences like “our economy is totally based on debt” or “the Fed is artificially propping up production with cheap money”. The people who say this are awfully confident and their gist is that “it’s all one huge bubble, and it’s going…
View original post 1,243 more words