The Two Causes of the Coming Great Depression
The Two Causes of the Coming Great Depression But the status quo has much to unlearn, and it seems the only pathway to a new understanding is a Great Depression. There are two approaches to analyzing a situation: 1. Choose the desired outcome--generally the one that doesn't require any major changes, sacrifices or downward mobility 2. Identify the initial conditions and systemic dynamics and then follow these to a conclusion back-tested by comparisons with historical outcomes. Our default setting as humans is 1: select the outcome we want and then find whatever bits and pieces supports that conclusion. Cherry-pick data, draw false analogies--the field is wide open. This is why we get so upset when our "analysis" is challenged: we're forced to ask what happens to us if our desired outcome doesn't transpire, and since the answer might be something less than optimal, we violently reject any data or analogies that conflict with our carefully curated "analysis...