Irving Fisher identified the debt deflation process in a paper in the early 1930s that explains how collapsing collateral values trigger cascading defaults and forced liquidations in recessions, a mechanism operating in the current bubble deflation
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Alistair McLoudEvidence Quote
“it's all this 1930s stuff which IR Fisher um you know first identified in a paper written I think in the early 30s”
Created: 8/11/2026, 6:55:40 AM
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