This all folds into the story of how for decades the monetary illusion created by central banks collaborating with governments has delayed an inevitable crisis by not dealing with reality. This means when the forces pent-up over the years finally break free events will most likely occur faster with far deeper ramifications than many people expect. When imbalances are ignored, bad things occur. When things finally blow up in the faces of those creating and promoting MMT we can expect to hear them claim it was not their fault and it was because of a general misunderstanding of the role of money and credit in the economy.[1]
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The geniuses at the central bank have such an immense understanding of the role of money that they have managed to destroy the very concept of building a nest egg over your working life. The Rule of 72 ensures that the dollar you put into your savings account will lose half its value in 36 years with an inflation rate of . . . hah . . . 2%. One half. The purchasing of the dollar under the stewardship of the wise men at the Eckles Building has gone down over 90% since the creation of the Federal Reserve Bank.
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And the people who supposedly DO understand the role of money and credit in the economy have even managed to impoverish people who live by their wages, never mind what they have under the mattress:
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Manufacturing jobs were destroyed:
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Our congressional crack whores made “debt limits” into a joke:
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Are you laughing yet?
Debt-fueled government spending soared:
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And welfare spending — otherwise known as “family destruction and crime encouragement spending” — soared:
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This is what the political class wants us to believe is “wise stewardship” and that lying, rotten, class of destroyers wants us to swallow The Great Reset they have in mind for us because, you see, they understand stuff and know how to get us out of Deep Woods. If you ask me this is shaping up into (continued) rule by dweebs, freaks, and arrogant pricks. But, I know, they care.
Notes
[1] “The First ‘Global Inflationary Depression’ Is Very Possible.” By Bruce Wilds, ZeroHedge, 3/6/21 (emphasis added).
2 comments
The haughty bastards will burn this beautiful country down around us and our children until there is only smoke left of Amerika . What did Nads say just last week ? Gawds will is of no concern to this congress ! I wish I could preach a little bit to the current congress but I doubt they would listen . Proverbs 18:12 Before destruction the heart of man is haughty .
Hauteur is something that infects the West. The rightness of one’s opinions is what matters. The consequences of one’s opinions are a matter of indifference. I swear the left does not understand the meaning of the saying, “Don’t foul your own nest.”
Walter Williams stated it more elegantly. The history of liberalism has been the effort to replace what works with what sounds nice. Or words to that effect.