{"id":42415,"date":"2019-01-08T10:07:19","date_gmt":"2019-01-08T15:07:19","guid":{"rendered":"https:\/\/olduvai.ca\/?p=42415"},"modified":"2019-01-08T10:07:19","modified_gmt":"2019-01-08T15:07:19","slug":"2019-fragmented-unevenly-distributed-asymmetric-opaque","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=42415","title":{"rendered":"2019: Fragmented, Unevenly Distributed, Asymmetric, Opaque"},"content":{"rendered":"
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2019: Fragmented, Unevenly Distributed, Asymmetric, Opaque<\/a><\/h3>\n

Add up Fragmented, Unevenly Distributed, Asymmetric and Opaque and you get a world spinning out of centralized control. <\/i><\/p>\n

Here are the key dynamics of 2019: fragmented, unevenly distributed, asymmetric, opaque.<\/b> Want to know what’s happening with inflation, deflation, recession, populism, etc.?<\/p>\n

It depends on what you own, when you own it, where you own it<\/b> and its relative scarcity and stability–assuming you have trustworthy information on its scarcity and stability.<\/p>\n

By ownership<\/i> I mean all forms of capital:<\/b> cash, tools, skills, social capital, trust in institutions, etc. Whatever forms of capital you own, the returns on that capital and its relative stability depend on the specifics of context and timing.<\/p>\n

Will there be deflation or inflation? The right question is: Will there be deflation or inflation in my household?<\/i>.<\/b> In a rapidly fragmenting economy and society characterized by opacity, asymmetric information and unevenly distributed results, generalizations are intrinsically misleading \/ false. The only possible answers arise in a carefully limited context: my household, my neighborhood, my industry, my company, etc.<\/p>\n

Here’s an example I’ve mentioned in the past: healthcare costs.<\/b> If you’re one of the lucky households with heavily subsidized healthcare costs (for example, a government employee with limited deductibles, low per-visit costs and modest co-pays), your healthcare inflation is likely negligible.<\/p>\n

But if your household doesn’t qualify for subsidies and has to pay market rates, you’re very likely to suffer double-digit healthcare inflation.<\/p>\n

2019 is the year that central banks and states lose control of the narratives, the economy and the social contract<\/b>, all of which are dynamic complex systems which excel in producing banquets of unintended consequences<\/i>.<\/p>\n

Control of the narrative requires harvesting “the right data” and spinning an interpretation that supports the status quo.<\/b><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

2019: Fragmented, Unevenly Distributed, Asymmetric, Opaque Add up Fragmented, Unevenly Distributed, Asymmetric and Opaque and you get a world spinning out of centralized control. Here are the key dynamics of 2019: fragmented, unevenly distributed, asymmetric, opaque. Want to know what’s happening with inflation, deflation, recession, populism, etc.? It depends on what you own, when you […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[124,5469,11055,1670,127,2299,202,426,587,1302],"class_list":["post-42415","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-central-banks","tag-central-control","tag-central-state","tag-centralization","tag-charles-hugh-smith","tag-control","tag-deflation","tag-inflation","tag-of-two-minds","tag-status-quo"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42415"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42415\/revisions"}],"predecessor-version":[{"id":42416,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42415\/revisions\/42416"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}