Comment by onraglanroad
2 days ago
It's strange we're complaining about too much investment. The reason we avoid deflation is because it hinders investment, but perhaps it's time for a bit less money creation and have a period of deflation, even if it makes the "growth" figures look bad.
Politically difficult of course.
It ruined my nice quiet job of delivering networks services during the dot com bust; it ruined the ordinary practice of staying employed and moving during the financial crisis; it didn’t hurt as much but wasted a lot of time and energy during the crypto excitement, and seems to causing people to somehow think that increasing our (based on 2026 chips) compute capacity by an order of magnitude or so makes sense (which economically represents real pessimism - we spend a few trillion on this years technology is saying we don’t think that the rate of growth of tech power will continue to increase in the out years).