Tom Luongo who is one of the bloggers I cited making some correct
refutations of Armstrong's recent blogs about cryptocurrency, recently wrote a blog which was an attempt summarize the business cycle. However, I think he made a few slight errors which I have corrected in a comment on his blog. ← PLEASE CLICK THAT LINK. This is an example where Armstrong is more knowledgeable than those who rebuke him because most of what I write at the above linked comment is what Armstrong also emphasizes (e.g. QTM money is not correct, it's all about confidence and deflation is not necessarily desirable).
Btw, the above linked comment of mine further explains some of my reasons why I think the paradigm of debt will die in the Knowledge Age. Debt cannot finance knowledge production. Debt is only useful for financing fungible activity that can be secured, e.g. building factories, houses, and other fixed capital infrastructure.