A steady state economy, if I am reading it correctly, is just continuation of money-as-debt, which is becoming impossible, due it being devalued by injection of free energy from off-planet, at the rate of more than tens of GigaJoules per second in all developed countries.

We have to have that injected energy, it is the most valuable we can imagine, because by using it, we create, adding things to Earth, instead of destroying, subtracting from Earth, as we have to do by extracting the energy we need from all things on Earth.

We saw what happens, instantly when 4tn per month stimulus is issued, oil prices go negative, companies go effectively publicly owned (By purchase of their bankrupt shares), and the environment begins to recover, in terms of fish and coral stocks, and the market price of the issued currency goes up.

So there is no overshoot, other than what we allow.

If we think that things have to carry on as they are, then we are creating the overshoot ourselves.

In effect, working from freely issued money, backed by freely received energy (which can only be solar), reverses the action done by working from energy extracted from Earth.

We go from destruction to creation, instantly. This was demonstrated, but media never talks about it, because the profit driven world is the thing that wants to carry on, and media is part of that.

But because we are already receiving and putting to use tens of GigaJoules per second of solar energy in every developed country, money is devaluing, because it is not being issued to reflect solar product, which continues to scale up regardless.

Interest rates have gone from nothing to 3% in ony a few months.

This will make no difference to the fact that money is still becoming increasingly removed from the real product of value, the thing we actually use, solar product, not money.

So money will continue to deflate in value, until it is issued to reflect the product received.

The timescale for money devaluing to something less than useful, is less than a year.

No-one in history could have seen this coming, except maybe God, who seems to have predicted it as "The end days"

This is way out of the league of anything that any economists have ever had to deal with in history.

So we can't look to history to try to fix this problem.

This is not a depression, it is a black hole, if / when we get sucked in there, we won't be coming back out.

However, it is fixable, even to achieve instant growth again, as long as we still have the power in money to do it.

We need to start issuing money for free, to correctly and honestly reflect the enargy received and put to use from the sun, before we pass the financial tipping point of money becoming not even strong enough to put in the remaining solar hydrogen capacity needed.

People will demand it in the streets by the millions soon enough anyway.