I think the inflation risk is obvious. If larry somers, who spent the last six years warrening about secular stagnation, thinks that they are overheating the economy, they're probably overheating the economy. So stand back and wait for the fed to blink. If they don't, you're going to rerun the sixties, when inflation went in two big jumps, from below 2 %, 3% to above 6%. And a people forget the great inflation of the 19 seventies startedand in the later 19 sixties,. Every time they say we, weare going to be as radical a government as the lindon johnson government, i think to myself,
Disasters are inherently hard to predict. Pandemics, like earthquakes, wildfires, financial crises, and wars, are not normally distributed; there is no cycle of history to help us anticipate the next catastrophe. In this episode, Michael Shermer speaks with one of the world’s most renowned historians, Niall Ferguson, who explains why our ever more bureaucratic and complex systems are making us worse, not better, at handling disasters.