{"id":7905,"date":"2015-05-07T06:42:50","date_gmt":"2015-05-07T11:42:50","guid":{"rendered":"http:\/\/olduvai.ca\/?p=7905"},"modified":"2015-05-07T06:42:50","modified_gmt":"2015-05-07T11:42:50","slug":"there-will-be-no-25-year-depression","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=7905","title":{"rendered":"There Will Be No 25-Year Depression"},"content":{"rendered":"

There Will Be No 25-Year Depression<\/a><\/h3>\n

Good and Bad News<\/strong><\/p>\n

Today, we have bad news and good news. The good news is that there will be no 25-year recession. Nor will there be a depression that will last the rest of our lifetimes.<\/p>\n

The bad news: It will be much worse than that. On Monday, the Dow rose another 43 points. Gold seems to be working its way back to the $1,200 level, where it feels most comfortable.<\/p>\n

\u201cA long depression\u201d has been much discussed in the financial press. Several economists are predicting many years of sluggish or negative growth. It is the obvious consequence of several overlapping trends and existing conditions.<\/p>\n

 <\/p>\n

\"BrooklynNewspaper from October 24 1929, a.k.a. \u201cBlack Thursday\u201d \u2013 at this point, the panic had just begun with the market losing 11% in one day. On the next two trading days (Friday and Saturday \u2013 at the time, the market was open on Saturdays) the market rebounded slightly, then came \u201cBlack Monday\u201d and \u201cBlack Tuesday\u201d, which erased all doubt about the seriousness of the situation<\/p>\n

Old People Are Dead Wood<\/strong><\/p>\n

First, people are getting older. Especially in Europe and Japan, but also in China, Russia and the US. As we\u2019ve described many times, as people get older, they change. They stop producing and begin consuming.<\/p>\n

They are no longer the dynamic innovators and eager early adopters of their youth; they become the old dogs who won\u2019t learn new tricks.<\/p>\n

Nor are they the green and growing timber of a healthy economy; instead, they become dead wood. There\u2019s nothing wrong with growing old.<\/p>\n

There\u2019s nothing wrong with dying either, at least from a philosophical point of view. But it\u2019s not going to increase auto sales or boost incomes \u2013 except for the undertakers.<\/p>\n

 <\/p>\n

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

There Will Be No 25-Year Depression Good and Bad News Today, we have bad news and good news. The good news is that there will be no 25-year recession. Nor will there be a depression that will last the rest of our lifetimes. The bad news: It will be much worse than that. On Monday, […]<\/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],"tags":[2310,236,5232,4897,1264],"class_list":["post-7905","post","type-post","status-publish","format-standard","hentry","category-economics","tag-depression","tag-economic-collapse","tag-long-depression","tag-negative-growth","tag-recession"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7905","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=7905"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7905\/revisions"}],"predecessor-version":[{"id":7906,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7905\/revisions\/7906"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}