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The Importance of Pain and the Lack of it in QE
32 sats \ 4 comments \ @2minutebitcoin 24 Jan 2023 bitcoin
Pain is a natural feature of life, giving you feedback and information.
When you try to cut off the pain flow through anesthetics, a bribe, or QE - you avoid paying the price and getting a lesson for your misstep.
This sends a ripple effect throughout the system, distorting it - and ultimately will lead you to make the same mistake again.
Today, we have Too Big To Fail institutions interrupting this evolutionary impulse. We preserve them at all costs and do not incentivize them to learn from their mistakes.
-- an excerpt from the 2-minute version of Saylor Series: The Rise of Man Through the Stone and Iron Ages Episode 1 (2020), originally posted in http://www.2minutebitcoin.org/blog/saylor-series-the-rise-of-man-through-the-stone-and-iron-ages-episode-1-2020
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10 sats \ 1 reply \ @NorthKoreanHostage 24 Jan 2023
You had me at "rise of man". I bet that dude is gonna bang a whole busload of broads. This is going to be a great movie.
Where's the movie? Some old dude keeps talking money, but don't see no hoes. Something's up here.
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10 sats \ 0 replies \ @NorthKoreanHostage 24 Jan 2023
Just noticed. Post says impotence.
Lame.
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0 sats \ 1 reply \ @TomK 24 Jan 2023
Frictional reserve banking with a cb-backstop produced boom-bust-cycles with growing volatility that moves now on the streets and battlefields. Tough times ahead, pain comes roaring back hard.
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0 sats \ 0 replies \ @2minutebitcoin OP 25 Jan 2023
That's a really salient point and we believe you are right, unfortunately.
Lack of economic growth is caused by mismanagement of the economy by our central parties. When the growth becomes too bad, one has to find it through other means. Historically this has always been war - there is no reason to think today is different.
But war need not be explicit like in the old days, at least to reap rewards from it...
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