If capital is currently misallocated and there needs to be a reset of sorts….and we need to transition from a world of an endless supply of cheap money and the need of businesses to constantly grow and grow and grow….
How painful is the “reset” going to be?
I’ve thought about this a lot and I honestly have no idea. it’s essentially trying to predict not only when a bubble will pop, but also *how*, but the whole point of bubbles is you can’t know. it’s an emergent behaviour from a complex and reactive crowd. if you could know, they would never happen. so given you can’t, you just have to insure yourself against the bust and wait.
