The author is mostly right, in this meta the best thing you can do is leverage as much as you can and pray that it doesn't burst at the wrong time. But that takes luck.

Incentives drive behavior. If you perverse the incentives, the economy will follow.

Why is our productivity growth at all time lows? Because our best are figuring out how to get people to click ads. Our best are trying to work out exactly which financial product will go up the most safely.

When the increase of the money supply outpaces the increase in productivity, everyone mistakes leverage for genius.