The question of reasoning doesn't really matter once you show its happening.

When you constrict the market like they have done, you naturally get distortions, and the adversarial nature of the market fails to perform economic calculation potentially leading to grave consequences. Even at this point, whipsaws would be quite destructive. I know people who have abandoned their careers due to lack of job availability for the foreseeable future. They were searching for years with no recovery.

When you destroy a pipeline of career development for short-term profit which is possible because of the decoupled nature of money-printing/credit facility, decisions made are psychologically sticky. When there is no economic benefit for competency, the smart people leave for a market where this is possible.

The smart people I know right now are quietly preparing for socio-economic collapse as a result of runaway money-printing. When you have a runaway dangerous machine, you can either step back and let it destroy itself (isolating yourself), or you can accelerate the breakdown of its dependent cycles. Many choose the former, since the latter carries existential risk for no real benefit in the short-term but the latter would result in the least amount of causalties.

70% of the economy covers the white-collar market, which will be gone soon, not because the jobs can be replaced by AI, but because the business leaders in consolidated industry all decide to replace workers becoming the instrument of their own demise through deflationary economics.

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sk5t 3 days ago | parent [-]

How does one concretely prepare for socio-economic collapse, beyond taking a long position in canned goods?

	▲	trod1234 3 days ago \| parent [-]
		There are a lot of ways one can prepare for such a collapse, the most impactful way is to develop skills and preserve knowledge of history, production, and other important information that is being suppressed or pigeonholed to only industry in foreign countries; to a greater or lesser degree. Preserve the dependencies that promote critical thinking, rational thought, and measured reason. Aside from that, figure out what you need for survival beyond the basics in a non-permissive environment without a rule of law; and build a community of people that have these skills. The lone wolf always dies, the pack survives. Austere Medicine, Food Preservation, Guns/Self Defense, Information Recon, etc... Map dependencies, costs, and yields (information that is largely kept confidential these days). Learn how to make stuff from scratch, and learn what areas you can leapfrog given knowledge of the development of such the technologies in such industries. Most of the materials we rely on today would not be available because we rely on knowledge of chemistry which few have. The actual factors that determine the Wealth of Nations are based in the ability of the individual citizen to be self sufficient and produce necessities from scratch that will last without excessive recurring cost. Through a distribution of labor. The book from Adam Smith covers these factors in great detail, and while LTV is now defunct/refuted, the cost portion implicit in the making of intermediate goods resulting from such valuation/economics is not, and remains valid. Debt-based money-printing on the otherhand is all about distorting the market allowing nationalized industry to outcompete legitimate companies through slave labor under financial engineering. The debasement stolen from everyone holding the currency is in fact slave labor. A runaway positive feedback system that destroys everything it touches (eventually), tainted by Ahriman.