"The great top-down nation-state will be only cosmetically alive, weakened by deficits, politicians’ misalignment of interests and the magnification of errors by centralised systems. The pre-modernist robust model of city-states and statelings will prevail, with obsessive fiscal prudence. Currencies might still exist, but, after the disastrous experience of America’s Federal Reserve, they will peg to some currency without a government, such as gold."
Yep, it's the middle ages with coffee-makers for us.
Is anybody besides me getting real tired of this guy? Yes, asset returns have too fat of tails to be correctly modeled by a normal distribution. Thanks, pal. We already know that. It doesn't make you a prophet.
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