BTC149: Parallels to the Roman Empire w/ Dr. nostr:npub1xr4duv928lxxkl8ease7elutw77zmagph387az2fcg5clr2e43zq6sf6z3
nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z 🤙
So, regardless of technological knowledge, real economic growth requires an expansion of savings. An expansion in savings permits an increase in the stock of capital goods, while the increase in capital goods permits an increase in economic growth. Technological knowledge by itself is insufficient.
https://mises.org/wire/does-technical-knowledge-always-lead-economic-growth
Prudent individuals and communities should strengthen local networks to weather the coming storm. While the precise timing remains uncertain, resilience comes from laying proper foundations in advance. A key aspect involves increasing involvement with one's local community and forging bonds of cooperation. Joining area organizations and neighborhood groups can foster mutually beneficial relationships and support systems invaluable when the currency buckles. With shared purpose, communities enhance their capacity to withstand the crisis.
Human interaction is, at its very core, a series of formal or informal credits and debits to others and is organized by rituals and rules that are tied to our evolutionary instincts, our earliest religions, and our earliest governing structures.
However, proponents of the credit theory of money tend to take their concept too far, often disregarding the importance of commodity money entirely, and generally painting too optimistic of a picture of a society's ability to govern a flexible, credit-based ledger at a large scale over long periods of time.
nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a
Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of eco- nomic relationships that were independent of the power of the state.
Carl Menger
Many people consider money to be a shared delusion. In this way of thinking, a society can pick anything it wants as money, as long as most of its members believe in it. Paperclips could be money, for example, if we all agree that they are. While this seems true at first, it's not sustainable. If the supply of that money can be rapidly expanded, then everyone's savings can be rapidly diluted. And a monetary premium provides a lot of incentive for people to make more of it, if possible. Therefore, if a money is not selected wisely within a society, it only takes a small number of individuals to break free from their society's shared delusion to realize that its money isn't scarce, and make a lot more of it to extract value from everyone else. Alternatively, people from a different society can exploit that society's shared delusion. Therefore, the only types of money that can maintain usage in a society for a long period of time are ones with a significant degree of genuine scarcity to them.
nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a
Fear the boom, not the bust
nostr:npub1t42gfjzfv74v8xrv65f2lrwd65jr85ysrtdmkkfrvqgcss5r4g0qk487qz how the fuck are you not 400lbs
Strength in restraint 😅
Have you wondered what it takes to be a long term HODLer? nostr:npub1rtlqca8r6auyaw5n5h3l5422dm4sry5dzfee4696fqe8s6qgudks7djtfs rejoins me on the show to talk about HODLer psychology, bitcoin culture, and what to expect going forward:
Adoption waves
Living on Bitcoin
Overconfidence
Mainstream culture
Bitcoin Fixes This
Jurisdictions
Thoughts on next cycle
HODLing through the cycles with American nostr:npub1rtlqca8r6auyaw5n5h3l5422dm4sry5dzfee4696fqe8s6qgudks7djtfs (SLP515)
nostr:npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk 🤙
🎯
A workforce crisis looms in construction as well.
The construction industry faces an impending labor shortage as a generation of experienced journeymen retire without a robust pipeline of new talent to take their place. Companies will be vying for workers from a shrinking pool of qualified candidates to meet project demand. Proactive steps must be taken now to recruit and train the next generation of skilled tradespeople.
Some believe it is only great power that can hold evil in check, but that is not what I have found. It is the small everyday deeds of ordinary folk that keep the darkness at bay. Small acts of kindness and love.
Most Economists Are Wrong about the Economy
