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Cathie Wood, Art Laffer and Preston Pysh From The Bitcoin Conference 2024 | Bitcoin Brainstorm 13
FYI - For Your Innovation
Prohibit Losses, Prohibit Profits
Financial crises often involve asset movement rather than real economic downturns, as evidenced by the steady levels of production and employment during recent turbulence. The intervention during the 2008-2009 Great Recession attempted to shield asset owners from losses, but this also curtailed potential profits, leading to wasted resources. Historically, serious economic depressions, like those post-World War I and during the Great Depression, have frequently stemmed from misguided monetary and taxation policies. Notably, tax increases during depressions exacerbate economic decline, undermining recovery efforts.
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