Here’s the thing: the current state of fiscal affairs in the US is unsustainable. If we were funding the deficit through conventional means, the US Government probably would have gone bankrupt in 2008 or 2009. Instead, the Federal Reserve is funding the deficit with $$ created out of thin air. I am convinced there is no Plan B here, because that would involve sacrifice on someone’s part and out current generation of politicians is too cowardly to risk that.
It may take a while, but eventually this will blow up in everyone’s face. When that happens, there will be a great financial reset and a lot of pain & mayhem. It may make the Great Depression look tame. However, it will be obvious to everyone that the System has failed—that will be the next opportunity for political transformation.
Unfortunately, in the lead up to that, people will demand MORE Government help & intervention as the current System becomes increasingly unstable.
“it will be obvious to everyone that the System has failed”
Okay, but what system? Based on every other recession, depression, panic, crisis, etc. it’ll be blamed on the free market ans laissez fairer policy. Bank on it.
I remember accidentally tuning in to see the History channel explain the 08 meltdown; they were backtracking for perspective ans still (STILL!) blaming Andrew Mellon’s tax cuts for the Great Depression. They can’t be beaten.
“it will be obvious to everyone that the System has failed”
Okay, but what system? Based on every other recession, depression, panic, crisis, etc. it’ll be blamed on the free market and laissez faire policy. Bank on it.
I remember accidentally tuning in to see the History channel explain the 08 meltdown; they were backtracking for perspective and still (STILL!) blaming Andrew Mellon’s tax cuts for the Great Depression. They can’t be beaten.