because I want to win.
And I agree that we are always gone mad. But it’s like a guy that always overspends and maxes out his credit cards. You don’t do that ad-infinitum. Eventually you are sitting on the sidewalk because the sheriff has kicked you out of your house. And three years later you are on a freeway offramp holding up a cardboard sign that ends in the words, “God bless”.
The world’s economy is very close to that point. It’s not being a doomsayer to prepare for that any more than it was being a doomsayer to be a jew in mid 1930’s Germany that took a boat to England.
As a farmer knows that the time of harvest is near, we are instructed to recognise the signs of the times.
I believe we are coming close to hitting to use an often used term, “rock bottom” and from there you rise up again.
I don’t think we need to hit bottom to win. We’re deep in dept but we’re also extremely productive. If we shape up we can get ourselves out of this hole.
If we allow ourselves to hit bottom all bets are off. People are good at drawing the wrong conclusions from a crisis. A collapse could be the final slamming of the door on the classical liberalism of our founding. I’d rather work to avert that possibility. Relying on a collapse to scare the country straight is too much of a gamble. It’s like a hail Mary pass. It might work but probably won’t.