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All the empires and dynasties I studied rose and declined in a classic Big Cycle that has clear markers that allow us to see where we are in it. This Big Cycle produces swings between 1) peaceful and prosperous periods of great creativity and productivity that raise living standards a lot and 2) depression, revolution, and war periods when there is a lot of fighting over wealth and power and a lot of destruction of wealth, life, and other things we cherish.
Principles for Dealing With the Changing World Order
Ray Dalio
But don’t just take my word for it, consider what Frederick Taylor wrote in The Downfall of Money when discussing Germany’s hyperinflation:
So, who did well out of the inflation in Germany? Creditors lost almost everything. By contrast, everyone, broadly speaking, who owed money, had their debt liquidated by inflation…Investors in stocks and shares – unlike fixed investments, these increased in price along with the inflation over the years in many cases provided an excellent return.
How to Invest Your Money When Inflation Is High – Of Dollars and Data
ofdollarsanddata.com
Triangulate your view with believable people who are willing to disagree. By questioning experts individually and encouraging them to have thoughtful disagreement with each other that I can listen to and ask questions about, I both raise my probability of being right and become much better educated.
"""Idea for a podcast"""
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