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I'm not opposed to the possibility of things getting worse, but that's not what I see.
It's often hard to see the progress in a market correction, but we understand that unwinding resource misallocations is a form of progress.
Similarly, the last few years have been like the bursting of a technocratic cultural bubble. Things had to come to a head before the much needed correction was viable. Now, we can proceed on a sounder footing. (That's my white-pilled view, anyway)
yeah, I buy that-- a very Misesian view in that the contraction/collapse is the cure, the actually beneficial thing that lets us rebuild.
Looking at observable empirics, however, is going to look very different.
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There's also short-term vs long-term thinking that seems relevant here. Most of the bad things going on right now seem short-term to me.
If I can say "It doesn't have to be this way." about something horrible, then I can also be optimistic about it getting better.
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