139. – Infinite Crisis (ft. Phil Neel)
This Machine Kills
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The Importance of Working Economists
In the mid nineties, there was a lot of fear that it could actually be plunging the world economy into a new depression. He's got direct lines to all these major industrialists and financiers across the board. Also is in communication with people doing the government management side of the crisis. And he says once this inflection point happens, and you go all these balance sheets across the private economy begin to go negative, then the rules of the game change. Wyckoff: What does rich do when they don't invest? Well, let's see if we can construct a really ornate macro economic model to try to figure out exactly why people wouldn't invest in this situation
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