Oct 9, 2017

David Hathaway on the social bubble

If natural interest rates prevailed and the state could not create money out of thin air, we wouldn’t have to go through these cycles.  There is a saying in the investment world, “Don’t confuse a bubble with brains.”  Every goofy business or social experiment seems to work during a boom time.  Everyone is a genius.  Let’s see, I will get a lot of tattoos, put decorative metal in my face, chug booze, and crash a motorcycle into a wall.  I will film myself doing these things and become an internet sensation.  The babes and paychecks will flow in like crazy.  It may work like that for a while; until the dam breaks and reality re-imposes itself.

~ David Hathaway, “Cultural Erosion and Violence,” LewRockwell.com, October 9, 2017

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