In China anything less than 6% growth is a recession meaning that it also causes financial problems and it's disruptive and it's a problem.
From Ray Dalio
I think so many people are reactive... they see things in a short term way they're right up against it.
Look at what caused people to make a lot of money and you will see that usually it is in proportion to their production of what the society wanted.
Pull in your belt, spend less, and reduce debt.
Treat your life like a game.
When people get at each other's throat, the rich and the poor and the Left and the Right and so on, and you have a basic breakdown, that becomes very threatening.
Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?
A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.
There is a strong tendency to get used to and accept very bad things that would be shocking if seen with fresh eyes.
Maintain 'baseball cards' and/or 'believability matrixes' for your people. Imagine if you had baseball cards that showed all the performance stats. You could see what they did well and poorly and call on the right people to play the right positions in a very transparent way.
4 perspectives
3 perspectives
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