—“There will be no “reset” after post-80s busts, as the booms were all financially engineered by banks: they amounted to net transfers of wealth to financial institutions and the underlying rich. The development of the mass internet is an exception: but ultimately — in the complete vacuum of national policy dealing with its externalities — it’s a mass net destroyer of social productivity and cohesion, and a mere reorganizer of social utility with objectively dangerous characteristics.”– Joel Katz

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