Very interesting read. Had to re-read some parts a few times, and other parts slower because (fiat) economics can be so thorny to grasp sometimes, but overall good read.

I wish someone like Lyn would ELI5 this stuff on some podcast soon.

Anyway when I read these kinds of writings on macroeconomics I can't help but think of this meme, every single time. (even if it's not always about the Fed)

On a more serious note, I wonder if these ideas will ever make it to the surface of the current starting trade wars. I feel like all the discourse I see in my local media and social networks is just surface level stuff.

"Trump doesnt know what hes doing! hes dumb!" "He's mean, we have to fight back!" "We stand up for our country, let's tarriff too!"

A lot of press conferences have been very COVID-esque: we'll be sticking together, there will be some pain coming, we stay in solidarity, tighten our belts for each other, government will be there to protect us and help, etc. etc.