Yes Bert, but I think they may be well on the way of achieving it now. I've been waiting for the crash for 20+ years. As Herb Stein said: "If something cannot go on for ever, it will stop." He advised on Israel's inflation in the 1970s which hasn't changed even now:
"The solution to Israel's inflationary crisis was in principle straightforward: a sharp cut in the budget deficit, devaluation and a tighter monetary policy, and an end to the indexation of wages along with other measures that would reduce inflationary momentum and thus the unemployment costs of the stabilization. But because such a program promised pain before gain, the government was reluctant to grasp seriously the nettle of disinflation, and there was a series of failed half-hearted stabilization attempts, starting as early as 1979." https://www.imf.org/en/News/Articles/2015/09/28/04/53/sp010601
There go all governments - always failure, they will never learn because - money
Great link. I remember the Reagan years well. He gave the Democrats the money they wanted and he got what he wanted. The economy was supposed to grow enough to offset the governments growth. Budgets go from year to year and governments go on forever. "The government is like a dragon, the more you feed it the bigger it gets. It will never get smaller' Lao Tsu
They always think they can inflate their way out of the overspending. The old saying, "Robbing Peter to pay Paul" It never occurs to restrict spending when revenues go down. The first thing any sane entity would consider.
I'm think they want it to crash so that when they roll out the CBDC people will be so desperate they will gladly sign up for it.
I agree with you also.
Exactly my take Benjamin and plenty of evidence to support.
The price of upwards mobility and retirement payments is compliance to the system. If enough rebel the system collapses.
Excellent point, Rick. I wonder at which point they will rebel?
Chances are very low. Humans have been habituated in many ways to the dictates.
Yes Bert, but I think they may be well on the way of achieving it now. I've been waiting for the crash for 20+ years. As Herb Stein said: "If something cannot go on for ever, it will stop." He advised on Israel's inflation in the 1970s which hasn't changed even now:
"The solution to Israel's inflationary crisis was in principle straightforward: a sharp cut in the budget deficit, devaluation and a tighter monetary policy, and an end to the indexation of wages along with other measures that would reduce inflationary momentum and thus the unemployment costs of the stabilization. But because such a program promised pain before gain, the government was reluctant to grasp seriously the nettle of disinflation, and there was a series of failed half-hearted stabilization attempts, starting as early as 1979." https://www.imf.org/en/News/Articles/2015/09/28/04/53/sp010601
There go all governments - always failure, they will never learn because - money
Great link. I remember the Reagan years well. He gave the Democrats the money they wanted and he got what he wanted. The economy was supposed to grow enough to offset the governments growth. Budgets go from year to year and governments go on forever. "The government is like a dragon, the more you feed it the bigger it gets. It will never get smaller' Lao Tsu
They always think they can inflate their way out of the overspending. The old saying, "Robbing Peter to pay Paul" It never occurs to restrict spending when revenues go down. The first thing any sane entity would consider.
Make China Great Again.
That is how it is working out.