Dark Ages...
P.S. John Williams (proprietor of ShadowStats.com) thinks we will have hyperinflation. He is entirely mistaken. We will have severe deflation.
You are both entirely mistaken. As soon as we have severe inflation or deflation, the game will be over and dark age begins. Japan and all other 400%-Debt/GDP economies are trying to maintain zero percent inflation until they can't.
Dark Age is severe deflation, but the difference is that almost nothing has value any more. Food becomes the unit of currency and becomes much more expensive, e.g. rice was money in Japan for about 600 years during its Dark Age. This means the maximization of the division-of-labor collapses back to barter money, which means productivity and new knowledge production collapses.
Agreed there exists now the threat of falling into a Dark Age. And that is why I am working so hard on a technological solution. I know you don't believe it is possible to avoid a Dark Age. You might be correct, but you also might not be. I told you upthread that my strategy is to make it so the hackers can avoid confiscation and control over their activities, so that we can create 1000X more productivity in the Knowledge Age space. I hope this can offset the collapse of 47% into technological unemployment along with a $223 trillion global debt morass with a $2000 trillion derivatives and unfunded future social liabilities.
Wait to see the outcome.
P.S. And I thought I was the pessimist in this forum, you are more pessimistic than me.