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Martin Armstrong - A History of Ranting, Wild Predictions, and of Course, Fraud
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cfdr
Posted 2/20/2015 08:15 (#4400230 - in reply to #4400038)
Subject: RE: Gentlemen, pick your conspiracy and believe.................


John Burns - 2/20/2015 07:03
From my reading of history, speculative manias are a common theme of empires that are peaking or starting to decline. Fewer and fewer people look for the long term as uncertainty makes those visions cloudy and uncertain.



I wonder if this is because of simply too much money sloshing around. This has been my theory for some time about the problems we have currently - much of the problems can be traced to too much money desperately looking for somewhere to go to get returns. The money convinces people to buy houses they cannot afford - of course, the Left loves this idea too and pushes it - but the driving force is the availability of cheap money. ZIRP changes investing completely. I'm just wondering - could it have been similar in many empires that are starting to decline? (BTW - I enjoyed reading Pettis' book where he seemed (to me, at least) to confirm what I had been thinking about the oversupply of money and the problems it caused.) It is the oversupply of money that blows bubbles, isn't it?
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