Great review thank you. The Bitcoin Standard is I think Saifs best work. Everything that follows it is derivative to some extent. Its all good and I love his provocative thinking and writing.
Note- in 1980 I could buy a house in New Zealand (a fairly rough one in a poor area), for the equivalent of one years unskilled labourers wages. Today you would be looking at closer to 5-8 years.
The largest escalation/inflation in housing has occurred under the neoliberal era of 'deregulation' which deregulated banks and opened up the spigots of fiat debt issuance no matter the purpose- resulting in massive lending toward housing which is a more or less non productive capital allocation.
This combined with the steady monetary 'easing' from 1990 - 2022 and Greenspans 'put' neoliberal monetarism has fucked the wests productive economy and handed global mercantile/trade dominance to China and its state capitalist model of autocracy. Gee thanks a bunch you amoral neoliberal mother fucker bankers cucks...you have brought western civilisation close being on its knees.
People learned that buying non productive real estate assets on leveraged debt was a near sure fire way to wealth, and it of course fed the bankers profits. Parasitic fiat bankers. This is largely why I prefer Bitcoin to fiat debt slavery.
Great review thank you.
The Bitcoin Standard is I think Saifs best work.
Everything that follows it is derivative to some extent.
Its all good and I love his provocative thinking and writing.
Note- in 1980 I could buy a house in New Zealand (a fairly rough one in a poor area), for the equivalent of one years unskilled labourers wages.
Today you would be looking at closer to 5-8 years.
The largest escalation/inflation in housing has occurred under the neoliberal era of 'deregulation' which deregulated banks and opened up the spigots of fiat debt issuance no matter the purpose- resulting in massive lending toward housing which is a more or less non productive capital allocation.
This combined with the steady monetary 'easing' from 1990 - 2022 and Greenspans 'put' neoliberal monetarism has fucked the wests productive economy and handed global mercantile/trade dominance to China and its state capitalist model of autocracy.
Gee thanks a bunch you amoral neoliberal mother fucker bankers cucks...you have brought western civilisation close being on its knees.
People learned that buying non productive real estate assets on leveraged debt was a near sure fire way to wealth, and it of course fed the bankers profits. Parasitic fiat bankers. This is largely why I prefer Bitcoin to fiat debt slavery.