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The Political Dangers Of Demographics

In their books Generations and The Fourth Turning, Neil Howe and William Strauss layout four generational archetypes that repeat through time. They have named these Prophets, Nomads, Heroes, and Artists. They believe that what emerges from this is a social and economic cycle that produces repeatable changes through time. In contemporary society, the generational archetypes…Read More

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Has Secular Deflation Turned?

We are coming to the end of the biggest credit expansion in history. While the expansion of credit has been devaluing for the USD and inflationary in terms of policy action, reflected in higher food, housing, and other asset prices, the net force of technology, too much debt and aging demographics is ultimately deflationary in…Read More