Meta tags:

Headings (most frequently used words):

july, 2018, the, friday, sunday, blog, debt, and, federal, econcrit, thursday, 26, tuesday, 24, 13, wednesday, 11, monday, archive, labels, search, this, for, reference, art, was, heregraph, techniques, about, me, even, using, ridiculous, 400k, smoothing, factor, favored, by, basel, iii, great, american, boom, 1949, 2013, free, shipping, my, ass, natural, rate, of, interest, financial, cycle, non, should, be, roughly, equal, control, variables, causation, correlation, canary, le, mot, un, juste, report, abuse,

Text of the page (most frequently used words):
the (461), and (156), debt (129), that (117), rate (61), growth (61), interest (56), are (50), #federal (50), this (49), for (48), economic (44), have (43), real (41), but (40), you (38), variables (35), what (32), not (31), share (30), inflation (29), control (29), rates (27), july (26), household (26), non (26), was (25), all (23), natural (23), low (22), variable (22), 2018 (20), can (20), constant (20), from (19), economy (19), when (19), know (19), financial (19), been (19), regression (19), linear (19), how (18), may (18), effect (18), see (17), change (17), one (17), sbe (17), more (16), economists (16), about (15), with (15), private (15), say (15), graph (14), than (14), has (14), cost (13), since (13), corporate (13), they (12), cycle (12), them (12), our (12), don (12), independent (12), model (12), williams (12), trend (11), first (11), push (11), gdp (11), should (11), only (11), paper (11), other (11), those (11), because (11), consequence (11), effects (11), much (10), wrong (10), look (10), right (10), out (10), want (10), would (10), long (9), also (9), two (9), into (9), problem (9), use (9), decline (9), even (9), october (9), world (9), very (9), comments (9), calculate (9), some (9), something (9), laubach (9), sectors (9), ancient (8), years (8), think (8), says (8), make (8), february (8), march (8), august (8), september (8), january (8), these (8), their (8), way (8), around (8), data (8), there (8), pinterest (8), facebook (8), blogthis (8), email (8), get (8), nominal (8), now (8), time (8), jerry (8), small (8), line (8), rome (7), rise (7), blog (7), run (7), april (7), june (7), november (7), december (7), got (7), point (7), part (7), its (7), subtraction (7), thing (7), then (7), maybe (7), outcome (7), due (7), over (7), while (7), deleveraging (7), view (6), here (6), search (6), like (6), doesn (6), policy (6), civilization (6), before (6), toynbee (6), great (6), 2013 (6), org (6), curve (6), between (6), increase (6), let (6), sentence (6), simply (6), good (6), value (6), find (6), interesting (6), hold (6), increases (6), 2008 (6), just (6), your (6), less (6), back (6), krustev (6), money (5), late (5), monetary (5), too (5), average (5), income (5), source (5), target (5), canary (5), roughly (5), american (5), boom (5), ridiculous (5), factor (5), archive (5), words (5), works (5), will (5), history (5), thomas (5), friedman (5), again (5), same (5), true (5), had (5), which (5), result (5), yet (5), does (5), take (5), crisis (5), holding (5), dependent (5), example (5), well (5), whether (5), valid (5), degree (5), linearity (5), abstract (5), gfc (5), schmelzing (4), work (4), end (4), last (4), capitalism (4), home (4), page (4), economics (4), sustained (4), global (4), slow (4), 1960 (4), little (4), 1950s (4), finance (4), 400k (4), smoothing (4), equal (4), free (4), using (4), sbt (4), sector (4), study (4), new (4), lot (4), 2015 (4), phillips (4), role (4), mostly (4), cause (4), most (4), cannot (4), year (4), why (4), things (4), third (4), three (4), mean (4), actually (4), number (4), given (4), done (4), happened (4), held (4), means (4), pretty (4), idea (4), suppose (4), affects (4), always (4), still (4), anything (4), different (4), results (4), science (4), pdf (4), growing (4), movements (4), straight (4), extremely (4), ratio (4), next (4), question (4), star (4), effectiveness (4), cuts (4), impaired (4), percent (4), headwinds (4), arthurian (3), links (3), ages (3), industrial (3), via (3), during (3), reddit (3), century (3), start (3), political (3), enough (3), trump (3), depression (3), 2021 (3), times (3), milton (3), measuring (3), labor (3), keynes (3), excessive (3), 1966 (3), labels (3), correlation (3), 1949 (3), nothing (3), both (3), else (3), credit (3), where (3), many (3), important (3), theory (3), business (3), historical (3), thru (3), 1970 (3), note (3), click (3), theories (3), united (3), states (3), papers (3), demand (3), price (3), versus (3), war (3), level (3), makes (3), greatness (3), posts (3), subtract (3), call (3), arithmetic (3), nor (3), implies (3), absurd (3), having (3), related (3), decade (3), saying (3), looking (3), obviously (3), bad (3), working (3), backwards (3), tells (3), force (3), dies (3), talking (3), okay (3), depends (3), correct (3), might (3), seems (3), suddenly (3), down (3), until (3), any (3), probably (3), numbers (3), controlling (3), isn (3), method (3), https (3), relative (3), itself (3), fair (3), months (3), comparing (3), post (3), system (3), almost (3), suggest (3), movement (3), high (3), greater (3), put (3), differences (3), picture (3), relation (3), showing (3), neighborhood (3), generally (3), answer (3), blue (3), red (3), central (3), john (3), estimates (3), advertisement (3), pointed (3), summary (3), recently (3), strong (3), persistent (3), lowered (3), below (3), stimulate (3), lift (3), dramatic (3), profile (2), fred (2), art (2), explain (2), stagnation (2), revolution (2), centuries (2), sense (2), social (2), market (2), medieval (2), life (2), early (2), england (2), middle (2), without (2), case (2), open (2), european (2), did (2), international (2), bankers (2), terms (2), cycles (2), quigley (2), evolution (2), civ (2), prosperity (2), productivity (2), stuff (2), math (2), inequality (2), google (2), financialization (2), fall (2), action (2), 1980 (2), 2023 (2), pressure (2), calculating (2), mot (2), juste (2), causation (2), shipping (2), ass (2), 202 (2), 2024 (2), name (2), mighty (2), remains (2), civilizations (2), powerful (2), indeed (2), repayment (2), difficult (2), such (2), likely (2), found (2), thought (2), own (2), leuchtenburg (2), statistics (2), left (2), quotes (2), baffling (2), influenced (2), 2014 (2), pull (2), dilemma (2), 2016 (2), full (2), employment (2), samuelson (2), solow (2), knowledge (2), stable (2), recent (2), old (2), vol (2), palley (2), vigor (2), troubles (2), big (2), slows (2), reducing (2), policies (2), encourage (2), surely (2), write (2), gets (2), trouble (2), day (2), must (2), calculation (2), word (2), defined (2), discussion (2), yes (2), thoughts (2), exists (2), observable (2), gives (2), driving (2), form (2), economies (2), countries (2), expected (2), sunday (2), coal (2), mine (2), dangerous (2), never (2), please (2), remain (2), either (2), changing (2), version (2), influences (2), test (2), strange (2), kind (2), boost (2), really (2), therefore (2), responsible (2), mind (2), components (2), www (2), com (2), experiment (2), wikipedia (2), controlled (2), include (2), minitab (2), tribute (2), analysis (2), friday (2), bothering (2), couple (2), objection (2), everything (2), except (2), period (2), story (2), previous (2), set (2), add (2), total (2), evaluating (2), close (2), accurate (2), made (2), changed (2), suspect (2), studying (2), larger (2), mix (2), accuracy (2), immediately (2), concern (2), focus (2), actual (2), attempt (2), depend (2), compare (2), bring (2), downsloping (2), five (2), runs (2), near (2), graphs (2), rgdp (2), pages (2), seen (2), 2003 (2), adds (2), explicit (2), happening (2), plausible (2), dynamics (2), addition (2), followed (2), points (2), could (2), read (2), regained (2), traction (2), permanent (2), stay (2), shows (2), sign (2), recovering (2), several (2), fortunes (2), evidence (2), relatively (2), output (2), estimate (2), temporarily (2), immediate (2), aftermath (2), moritz (2), kuhn (2), schularick (2), steins (2), america (2), decreasing (2), confident (2), vulnerabilities (2), risen (2), substantially (2), favored (2), basel (2), iii (2), herbert (2), hoover (2), cnn (2), econcrit (2), powered, blogger, complete, techniques, commentary, helps, dark, article, republic, principate, unequivocally, capitalist, society, based, ownership, property, transaction, relations, through, agriculture, simulations, nature, limits, anglo, saxon, norman, farming, laxton, village, survey, peasants, advances, agricultural, technology, 800, 1000, maritime, insurance, built, priceonomics, classes, classical, culture, ups, downs, 900, atlantic, collapse, written, arctic, ice, andy, blunden, taking, malthus, seriously, guilds, religious, preceded, 20th, convergence, divergence, portuguese, 1527, 1850, harbingers, modernity, injections, 1492, 1790, europe, riches, voxeu, daily, reckoning, eight, suprasecular, 700, michael, hudson, armstrongeconomics, reference, licensed, under, creative, commons, attribution, noncommercial, noderivatives, license, report, abuse, whelan, guide, whack, mole, opinion, econ, throwback, plan, continuing, panic, secular, profit, falsifiable, nobody, n2r, fried, man, profits, ulc, making, piggies, personal, levels, dead, overview, units, fix, 19th, fallacy, composition, equilibrium, polarization, concerns, drive, companion, service, ceiling, cmz, brooks, adams, decay, attitude, arnold, apr13, alternative, wage, thesis, gothedistance, 2019, 139, 2020, 204, 159, 2022, 118, 100, 136, 2025, blogthemes, pedestal, appear, ozymandias, king, kings, despair, beside, maintained, fate, determined, response, challenges, facing, ideas, philosophers, commonly, understood, ruled, encourages, discourages, indebted, attempts, describe, complex, interactions, overly, simple, adages, lead, incorrect, conclusions, remarked, plurality, suffrages, guarantee, truth, discovery, cases, show, respects, departs, prevailing, descartes, meyer, tasci, nathan, becker, stefan, zenker, shelley, themes, 10000, mercantile, timelines, wanniski, jude, volumes, abridged, tooke, inquiry, currency, principle, terborgh, george, rostovtzeff, roman, empire, mullineux, crises, montagu, critical, essays, reviews, ferdinand, beginnings, perils, franklin, roosevelt, deal, kissinger, meaning, reflections, spengler, kant, mischief, choose, finley, ensor, 1870, 1914, delong, mathematical, logic, dalio, principles, machine, arrighi, twentieth, upper, corner, book, icon, side, window, phrases, debate, norikazu, takami, retrospectives, cruel, stability, reconsidered, objective, 1960s, aggregate, menu, choice, retrospective, johannes, schwarzer, 1977, humphrey, pre, literature, 1974, hayek, prize, lecture, pretense, counter, 1968, presidential, address, alt, link, 1962, arthur, okun, potential, measurement, significance, achieving, maintaining, richard, lipsey, 1959, charles, schultze, 1958, 1937, general, abridgement, unabridged, spontaneous, steve, keen, hover, quote, quick, folder, tab, contents, levy, institute, publications, ebooks, forever, fadedpage, selected, costly, decent, jobs, scarce, lost, regain, china, measure, fan, diagrams, sometimes, screen, capture, slide, slideshare, presentatio, difference, corresponding, quantity, velocity, mid, numbered, elections, weeks, away, yesterday, saw, republican, candidates, heavily, adver, went, harbor, freight, traffic, fight, parking, looks, hearing, phrase, forced, conclude, concept, cap, subscribe, atom, older, newer, questions, challenge, topic, allows, sentences, provide, facts, comparable, started, above, observation, particular, nay, whole, stays, slower, intimately, keep, interrupting, myself, challenging, clear, presenting, create, impression, importance, key, worse, measured, calculated, fact, causes, certainly, shorten, unacceptable, completely, acceptable, values, condition, short, term, developed, hovered, zero, similarly, quite, standards, although, remained, positive, minus, falling, negative, monday, trying, understand, wouldn, googled, bunch, quotables, normally, turned, bit, government, impact, decide, pick, crude, ignore, pretend, sophisticated, repeatedly, giving, each, chance, misinterpreting, nonsense, alone, boosted, instead, harm, poor, asserting, none, shouldn, talk, grotesquely, affected, going, happen, switch, higher, retroactively, major, school, hell, seem, enters, interpretation, usually, particularly, interested, quora, regressio, strongly, experimental, order, relationship, primary, experimenter, wiki, control_variable, need, varies, experiments, quantities, scientist, wants, she, observe, carefully, sciencebuddies, projects, project, buddies, importantly, automatically, controls, every, predictors, adventures, pondering, cecchetti, looked, tried, express, past, silly, dunno, measures, sure, turn, sit, couldn, responded, said, lets, examples, together, depending, stronger, his, explanation, overwhelmingly, presume, alternate, realities, examine, nonlinear, throw, holds, curves, validity, matter, determining, large, subtle, determine, confidence, size, throwing, somebody, borrowed, payment, against, however, became, complicated, loan, repaid, pipe, smoke, seeing, changes, useful, being, record, series, convert, scatter, plot, excel, annual, half, offer, perspective, best, distributed, entities, debts, thus, concerned, bigger, concentrate, off, later, horizontal, vertical, curvy, georgi, 2168, bank, stumbling, pdfs, lately, context, disclosure, starting, regarding, takes, modified, confirms, models, features, kicker, comes, pushing, obvious, explains, fed, paragraph, technical, expands, another, apparent, flaw, rectified, extending, advertising, worked, people, apparently, began, feel, deleveraged, gave, includes, imagine, downward, tending, guess, comparison, hoped, become, indications, definite, bottom, thereafter, evaluation, naturally, prefer, gotta, observed, holston, wrote, few, signs, wish, join, optimism, convincing, shift, longer, drivers, normal, future, rising, moving, extraordinarily, advanced, heightened, permanently, declined, trends, determinants, recession, estimated, fell, sharply, persistently, prompted, redux, dissipation, rebounded, aligning, component, after, updated, gaps, shown, substantial, deviation, derived, basis, production, function, approaches, consequently, plausibility, questioned, percentage, extend, introducing, joint, estimation, unemployment, sustainable, incorporating, arguably, omitted, able, deliver, decades, confirmed, wednesday, ulrike, title, already, didn, granted, increasing, 1999, 2006, studied, reached, 2017, published, fallen, doubt, across, groups, vulnerability, households, responsibility, lies, fails, consider, quantitative, assessment, balance, sheets, demonstrates, strata, distribution, experienced, tuesday, following, downhill, grows, faster, thursday, stock, crashed, former, president, office, 1929, signaled, beginning,

Text of the page (random words):
anything that was done before 2008 the outcome we got is the outcome we got you can see it on a graph of gdp growth even if it is true that growth is affected by all the components of debt we re not going to see the gdp growth of the last 70 years change when we hold most of those components constant let s say that the federal debt is always bad for economic growth and that household and corporate debt is always good for economic growth until 2008 this is more or less what economists thought well if we control for household and corporate debt we should see only the bad effects of the federal debt economic growth should be less the growth numbers should go down but that doesn t happen the growth numbers don t change if we suddenly switch variables then controlling for household and federal debt we should see only the good effects from corporate debt economic growth should be higher but obviously it isn t the growth numbers don t change the outcome doesn t change retroactively when you control for different variables i was a math major in school but i ve never done regression so maybe i don t know what the hell i m talking about if i have something wrong or if i seem to have something wrong please do point it out at july 06 2018 8 comments email this blogthis share to x share to facebook share to pinterest monday july 2 2018 causation correlation canary the canary dies is the coal mine dangerous because the canary dies no and yet we know the coal mine is dangerous because the canary dies at july 02 2018 no comments email this blogthis share to x share to facebook share to pinterest sunday july 1 2018 le mot un juste subtract the rate of inflation from gdp growth and you get what economists call the rate of real gdp growth subtract the rate of inflation from the rate of interest and you get what they call the real interest rate subtract the inflation rate from a nominal rate and you get a real rate that s the arithmetic of it you may have questions about gdp and interest rates and the economy and even about this calculation but you cannot challenge the arithmetic it works our topic is the interest rate the arithmetic allows economists to say things like this since the global financial crisis short term nominal interest rates in many developed economies have hovered around zero similarly inflation rates have been quite low by historical standards although they have remained positive and roughly stable on average in most countries as a consequence real interest rates defined as nominal rates minus expected inflation have also been very low even falling negative for some countries now i have a problem i don t have a problem with the first two sentences which provide facts my problem is in the third sentence but the problem is not about how to calculate real interest rates which is comparable to what i started with above nor is the problem with their observation that real interest rates have been very low this is simply the result you get from the calculation my problem is with the first three words of the third sentence in particular the third word consequence it is simply the wrong word it implies that real rates are low because interest rates and inflation are low nay not implies it says as much consequence is defined as a result or effect of an action or condition to say that interest rates and inflation are low and as a consequence real rates are low is to say that real rates are a result of interest rates and inflation the result that is of the subtraction this is absurd the whole discussion that economists have been having about the real rate of interest is an important discussion if the economists are right if the real rate is low and stays low our economy will not be the same economic growth will be slower for one thing what s that you say growth has been slow for a decade you say yes indeed and this is intimately related if those economists are right to the fall of the real interest rate to a low level i keep interrupting myself to say if those economists are right not because i m challenging them but to make it clear that i am presenting their view not my view i don t have a view on this i don t yet know what my thoughts are so when you say growth has been slow for a decade what you are saying is that it s a good thing economists are looking into this low real rate thing i mean to create the impression that the real rate is a factor of great importance for the economy the real interest rate is a key real world factor obviously it is not simply the consequence of the subtraction it exists if these economists are right and it is powerful enough to make economic growth go from bad to worse we know the value of the real interest rate because of the subtraction actually the real interest rate is not observable it cannot be measured it can only be calculated by working backwards from observable things that s what the subtraction does it gives us a number for the real interest rate by working backwards from inflation and the nominal rate but the fact that we can work backwards to get the number tells us that the real rate exists if those economists are right they see it as a driving force a force that causes the value of the nominal rate to be what it is given inflation but if this is true if the real interest rate is a driving force then surely it is wrong to say the value of the real interest rate is a consequence of inflation and the nominal rate the real rate is cause not consequence we know the value of the real rate as a result of the subtraction this is certainly true if those economists are right but the value of the real rate is not a consequence of the subtraction nor of the nominal rate and inflation let me take their third sentence and shorten it as a consequence real interest rates have been very low in that form i find the sentence unacceptable but in this form it is completely acceptable as a consequence we know that real interest rates have been very low we know because of the subtraction we know because of the values of inflation and the nominal rate our knowledge is a consequence of these things but the real rate is not if those economists are right at july 01 2018 no comments email this blogthis share to x share to facebook share to pinterest newer posts older posts home subscribe to posts atom why economists must think in terms of the cycle of civilization i ve been hearing the phrase late capitalism for so long that i m forced to conclude that the very concept of late cap looks like vigor to me went to harbor freight the other day when i left there was so much traffic i had to fight my way out of the parking lot at one p m on let s see if this one gets me into trouble as i write this it is mid october in an even numbered year elections are weeks away yesterday i saw republican candidates heavily adver not the rate of interest but the cost of finance not inflation but the decline of growth it is surely true that the price level cannot rise without a corresponding increase in the quantity of money or velocity or use of credit the most important difference between cost push and demand pull inflation i m not a fan of diagrams in economics but sometimes this is a screen capture of slide 36 from a slideshare presentatio federal debt is the measure of economic troubles in the private sector not the cause of them the cause is excessive private sector debt private debt is too big and too costly it slows the economy it slows income growth it makes decent jobs scarce we lost our greatness to excessive private sector debt we can regain american greatness by reducing private debt if we do so before china has all the greatness note that we have many policies to encourage the use of credit and no policies to encourage repayment of debt selected fred data free ebooks forever fadedpage levy institute publications art s old vigor page click folder tab to view contents quick quotes on debt sbt hover for the quote click for the source steve keen sbe thomas palley sbe palley again same source sbe arthurian spontaneous sbe arthurian sbe id a j toynbee a study of history unabridged vol 1 page 1 abridgement vol 1 thru 10 id mostly old cost push stuff 1937 the general theory of employment 1958 the phillips curve paper 1959 charles schultze recent inflation in the united states 1960 richard lipsey on the phillips curve 1960 samuelson and solow problem of achieving and maintaining a stable price level 1962 arthur okun potential gdp its measurement and significance 1968 friedman s presidential address the role of monetary policy or alt link 1970 milton friedman the counter revolution in monetary theory 1974 f a hayek prize lecture the pretense of knowledge 1977 thomas m humphrey on cost push theories of inflation in the pre war monetary literature id papers by johannes a schwarzer sbt samuelson and solow on the phillips curve and the menu of choice a retrospective 2013 sbe growth as an objective of economic policy in the early 1960s the role of aggregate demand 2014 sbe price stability versus full employment the phillips curve dilemma reconsidered 2016 sbe retrospectives cost push and demand pull inflation milton friedman and the cruel dilemma 2018 sbe id papers by norikazu takami 1950s cost push sbt baffling inflation cost push inflation theories in the late 1950s united states 2014 sbe the baffling new inflation how cost push inflation theories influenced policy debate in the late 1950s united states 2015 sbe id archive org links sbt archive org home sbe note at archive org the upper right corner search is for all of archive org to search the open book click the search icon on the left side of the window and use quotes around search phrases sbe historical statistics thru 1970 part 1 arrighi g the long twentieth century dalio r economic principles how the economic machine works delong h a profile of mathematical logic r c k ensor england 1870 1914 finley m i the ancient economy friedman m free to choose friedman m money mischief kissinger h the meaning of history reflections on spengler toynbee and kant leuchtenburg w franklin d roosevelt and the new deal leuchtenburg w the perils of prosperity lot ferdinand the end of the ancient world and the beginnings of the middle ages montagu a toynbee and history critical essays and reviews mullineux a w business cycles and financial crises quigley the evolution of civilizations rostovtzeff the social and economic history of the roman empire terborgh george the new economics tooke thomas an inquiry into the currency principle toynbee aj a study of history volumes i vi abridged wanniski jude the way the world works sbe id timelines industrial capitalism sbe mercantile capitalism sbe 10000 years of economy sbe id blog themes and on the pedestal these words appear my name is ozymandias king of kings look on my works ye mighty and despair nothing beside remains shelley toynbee maintained that the fate of civilizations is determined by their response to the challenges facing them stefan zenker 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 j m keynes economic policy encourages credit use and discourages the repayment of debt that s how we in the private sector got so indebted nathan becker attempts to describe complex interactions in the economy with overly simple adages can lead to incorrect conclusions meyer and tasci i remarked that a plurality of suffrages is no guarantee of truth where it is at all of difficult discovery as in such cases it is much more likely that it will be found by one than by many descartes i have thought it important not only to explain my own point of view but also to show in what respects it departs from the prevailing theory j m keynes blogthemes blog archive 2025 136 october 4 september 19 august 12 july 6 june 10 may 11 april 23 march 19 february 11 january 21 2024 100 december 15 november 9 october 14 september 10 august 7 july 12 june 7 may 3 march 13 february 7 january 3 2023 118 december 6 november 15 october 8 september 8 august 4 july 3 june 16 may 15 april 12 march 8 february 12 january 11 2022 159 december 22 november 17 october 13 september 6 august 4 july 9 june 12 may 4 april 11 march 22 february 15 january 24 2021 204 december 8 november 21 october 15 september 17 august 11 july 13 june 22 may 19 april 17 march 22 february 18 january 21 2020 139 december 20 november 20 october 8 september 11 august 13 july 8 may 2 april 18 march 16 february 19 january 4 2019 202 december 9 november 13 october 18 september 15 august 16 july 20 june 18 may 15 april 27 march 25 february 12 january 14 2018 202 december 12 november 13 october 20 september 11 august 8 july 8 even using the ridiculous 400k smoothing factor fa the great american debt boom 1949 2013 free shipping my ass the natural rate of interest and the financial cycle federal and non federal debt should be roughly equal the control variables causation correlation canary le mot un juste june 19 may 20 april 30 march 31 february 30 labels gothedistance 1966 3 inflation target 400k smoothing an alternative to the wage push inflation thesis apr13 arnold j toynbee attitude brooks adams civilization and decay calculating labor share civilization cmz cost pressure and the decline of civilization cycle of civilization debt and inequality debt ceiling 2023 debt service before 1980 debt to gdp companion economic concerns drive political action economic decline as the source of polarization equilibrium excessive finance fall of rome fallacy of composition finance before 1960 financial cost push financial cost push in the 1950s financialization in the 19th century fix the economy google s ai overview and units household debt in the long run we are all dead income inequality industrial productivity july 2021 keynes on civilization labor share levels labor share of personal income little piggies making use of the cycle of civ math ulc measuring profits milton fried man more debt than money is policy n2r nobody says this stuff but me but that doesn t make it wrong not falsifiable on average productivity profit v interest prosperity quigley evolution of civ real to real debt to gdp s s 1960 secular cycles slow growth terms of the times the 2021 inflation panic the continuing cost problem the cost push problem the end of life as we know it the plan the trump depression they think like bankers throwback too much opinion and not enough econ whack a mole what is political economy whelan s guide report abuse home search this blog this work is licensed under a creative commons attribution noncommercial noderivatives 4 0 international license for reference armstrongeconomics on ancient interest rates michael hudson on ancient interest rates schmelzing 700 years of real interest rates schmelzing the suprasecular stagnation schmelzing eight centuries of global real interest rates com...