The Price of Tomorrow - Jeff Booth

Why deflation is the key to an abundant future. Currency deflation and technological deflation.

With deflation, a currency becomes more valuable because its buying power goes up in relation to goods and services. With inflation, it’s the opposite: the prices of goods and services go up and therefore a currency’s value is lower as purchasing power is less.

Debt grows faster than the economy.

In 2000, the total debt in the world was approximately US$62 trillion. At the same time, the world economy in 2000 was about US$33.5 trillion. Since 2000 the world economy has grown from US$33.5 trillion to about US$80 trillion, the total debt has grown to over US$247 trillion.

$185 trillion capital was injected. These numbers are pre-COVID-19. It is more now.

A bubble pops when people wake up and realize that the debt can never be paid off. At that point, credit is removed - and because easy credit was the main thing causing the run-up, assets collapse. It is what led to the bubble in technology stocks in early 2000s. It is what led to the crisis in Greece and to the crisis in Venezuela today.

Technology

Economies of scale to network effects.

In 2001, Amazon had lost about 94 percent of its market value from its peak in 1999, and the analysts were all over it, with some saying that it would not survive.

Book continues with energy production becoming cheaper, the impact of artificial intelligence, the future of healthcare on your wrist, rise of extremism.

Bitcoin is mentioned.