The Consequences of the Economic Peace
“There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” –
John Maynard Keynes
“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from
any intellectual inuences, are usually slaves of some defunct
economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.” –
John Maynard Keynes
“I nd economics increasingly
satisfactory, and I think I am rather good at it.” –
John Maynard Keynes
THINGS THAT MAKE YOU GO
Hmmm...
A walk around the fringes of nance
By Grant Williams
06 October 2014
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THINGS THAT MAKE YOU GO
Hmmm...
06 october 2014
Contents
Mass Default Looms As World Sinks Beneath a Sea of Debt .....................................30The Messaging App That’s Powering the Hong Kong Protests ...................................31Argentina Central Bank Governor Juan Carlos Fabrega Resigns ................................32Moscow Is Provoking a Number of Its Neighbors ..................................................33Hong Kong Crisis Exposes Impossible Contradiction of China’s Economic Growth ...........35A Final Splurge ........................................................................................36
3
THINGS THAT MAKE YOU GO
Hmmm...
06 october 2014
Things That Make You Go
Hmmm...
This week’s TTMYGH is going to be a little dierent.
After several weeks on the road and staring down a couple more, I am going to make an attempt to turn the presentation I have been delivering into written form, after many requests for a version that people can look at in the comfort of their own homes (and, presumably, without my annoying voice clouding the issue).
I’m hoping I can turn a very visual and uid presentation into a more static one; but I’m sure
that if I fail miserably, you’ll let me know.This will make for a chart-heavy and consequently much longer piece than usual (though lighter on additional articles in the interest of saving your time and space this week), but let’s see if we can’t make this work.The presentation, entitled “The Consequences of the Economic Peace,” is a look at the
ramications of several decades of easy credit and an attempt to draw parallels with a time in
history when the world looked remarkably similar to how it does now.That last time didn’t end so well, I’m afraid.So... without further ado, here we go.
The Consequences of the Economic Peace
The 19th century was a time of upheaval right across the world.
There were no fewer than 321 major conicts in a century which encompassed, among others,
the Napoleonic Wars, the Crimean War, the US Civil War, the Boxer Rebellion, the Opium Wars, and the Boer War.
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