“The budget should be balanced, the treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” -- Cicero , 55 B.C.
Model Collapse: The Entire Bubble Economy Is a Hallucination
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The conclusion that soaring asset prices mean the economy is strong is a
hallucination that goes unrecognized because the entire financial system is
hall...
23 minutes ago
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