I like the train analogy at the link.
Equally applies here in ways.
Debt is a crisis around the world in just about every nation.
Western nations have a massive debt bubble. China has the biggest bubble (its much bigger than ours). The US is on an unsustainable path and inflation is ravaging the world reserve currency. Developing and third world nations are in debt up to their eyeballs as China and the world bank have pushed loans on them non-stop with their nations as collateral.
History tells us what will happen......... war.
Chang gets a lot of flak here and perhaps some of it is deserved as he has long predicted the collapse of China. However, he has been right in pointing out the fundamental flaws in the system just as many are correct in pointing them out here in the US.
The current status quo is unsustainable. The world economy is so intertwined now that one big crash will send shockwaves up and down the pyramid.
Central bankers lied to us by telling us that they could “pump” or “prime” their way out of recession or slow-downs. Our politicians demanded it.
A recession or contraction in a free market economy can be a very healthy event because it weeds out the weak. However, we now live in an era where the “too big to fail” companies are bailed out by the banksters and politicians so “we the people” are taxed to save corporate boardrooms that own our politicians and staff our bureaucracies.
We have sustained the unsustainable by “taxing” the working and middle class for the profit of the elites. Forget the homeless people crapping on police cars, “Occupy Wall Street” was correct. It was the leftist version of the Tea Party where people instinctively recognized that the game was rigged.
When you point this out some suggest you are oversimplifying it. Yes, it’s complex. Deliberately so. Despite that, please tell me where I am wrong because creating inflation to protect the weak and the elites plus sustain deficit spending by government IS a tax on regular people. At some point, you can save the business but choke the customer so who is going to buy the product? You can only sustain those who consume and never contribute for so long.
We live in an era of deception. The banksters and globalists have lied as much our public health hacks did to us in the last two years.
The day of reckoning approaches.......... God help us all.