"The Economy" is Hell: On Overproduction and Crypto / Trevor Jackson
This Is Hell!
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The Probability of a Bubble and Everything Can Burst All at Once
A decade of very low interest rates meant a lot of borrowing, right? Lots and lots of businesses, people, countries, particularly countries in the global south, borrowed a lot. And eventually, you know, and this is the argument of the somewhat eccentric heterodox economist, Jaime Minsky, who would say, look, some number of those borrowers are gonna fail. So what is the likelihood that a bubble and everything can burst everywhere all at once? What would happen if it did? That's unfortunately.
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