fewer people doing the real work

Ultimate Constraint

Fake money causes people to waste time and money.

And central bank policies discourage savings by lowering interest rates… even pushing them into negative territory. Instead of saving them for the future… resources are consumed today.

These mistakes accumulate as debt… which then forces people to spend more time servicing the mistakes of the past.

Meanwhile, the internet gives people a new way to waste time. At home. At work. On the high plains. Or in the lowlife back alleys. People spend their precious time on idle distractions and entertainments.

That leaves fewer people doing the real work that progress requires – saving, investing, and working for the future.

Time is always the ultimate constraint. You can substitute one resource for another. You can switch from oil to solar… or copper to aluminum. But there’s no swapping out time.

There’s nothing like it. Get on the wrong side of time, and you are out of luck.

Regards,

Bill