Difference between revisions of "The Big Nap"
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''The period beginning on September 2, 1945, and ending 75 years later on February 19, 2020—which signaled the end of World War II and the beginning of the slide from the peak of the stock market when the world began to accept that the Coronavirus was indeed a serious pandemic, respectively.'' | ''The period beginning on September 2, 1945, and ending 75 years later on February 19, 2020—which signaled the end of World War II and the beginning of the slide from the peak of the stock market when the world began to accept that the Coronavirus was indeed a serious pandemic, respectively.'' | ||
''The Big Nap, in this theory, is itself divided into three sections. | ''The Big Nap, in this theory, is itself divided into three sections.'' | ||
* ''The “power sleep” (1945 to 1970), when economic growth was extraordinary, and the memory of World War II was still fresh.'' | |||
* ''The “mysterious transition” (1971 to 1973), when the post-war magic suddenly evaporated.'' | |||
* ''The “deep sleep” (1974 to 2020 and the COVID-19 pandemic era), characterized by what I've termed elsewhere, the “new gimmick economy” in which leaders at first look to restart growth but, sometime in the 1980's, actually gave up and began selling claims against the future so that a small leadership class could continue to pretend the growth was indeed continuing by transferring wealth from their descendants' futures, and from workers who could not politically protect themselves from predation.'' | |||
''The Big Nap—at least in the developed free world—was essentially characterized as a run of extraordinary relative good luck and serenity (at least by the historical standards set by previous world wars, pandemics, depressions and depressions), where the new gathering storm clouds of the Cold War threatened and menaced in the distance, but the skies directly above remained unprecedentedly clear. This created a bizarre developmental environment where the serenity of the Big Nap led to a worldwide epidemic of magical thinking among the expert and leadership classes that were raised during this time.'' | ''The Big Nap—at least in the developed free world—was essentially characterized as a run of extraordinary relative good luck and serenity (at least by the historical standards set by previous world wars, pandemics, depressions and depressions), where the new gathering storm clouds of the Cold War threatened and menaced in the distance, but the skies directly above remained unprecedentedly clear. This created a bizarre developmental environment where the serenity of the Big Nap led to a worldwide epidemic of magical thinking among the expert and leadership classes that were raised during this time.'' | ||