Loading ...Why This Bubble Economy Keeps Going
And Going
And Going
Does this not just postpone the inevitable bust, one may ask? The ABCT even helps to find an answer to this question. For one thing, of course there would be a recession-depression-like bust at some point, if and when market forces have the space to restore the economy to equilibrium. However, neither politicians, bankers, entrepreneurs, nor employees want this to happen. This gives governments and their central banks—supported by a public that is becoming increasingly fearful of job losses and personal ruin—carte blanche to go ahead and do away with what little is left of the free market system.
Sir Fully: nice find, good article
another way of looking at it, the economy during a recession/depression cycle is a bit like being stuck on a ship in a storm, with leaders that are a product of our ‘democracy’. Those government leaders are supported by ‘voters’ that believe all men are entitled to “life, liberty, and HAPPINESS” (taking it beyond the ‘pursuit of happiness), and give government and the CBs carte blance (tyranny) to keep the party going. Free markets can be taboo in a world where everyone is guaranteed happiness, with a political system of demagoguery. Some guy in ancient Greece saw this coming. Not to be too pessimistic, this will have a happy ending!
https://www.theschooloflife.com/thebookoflife/why-socrates-hated-democracy/
‘In the dialogues of Plato, the founding father of Greek Philosophy – Socrates – is portrayed as hugely pessimistic about the whole business of democracy. In Book Six of The Republic, Plato describes Socrates falling into conversation with a character called Adeimantus and trying to get him to see the flaws of democracy by comparing a society to a ship. If you were heading out on a journey by sea, asks Socrates, who would you ideally want deciding who was in charge of the vessel? Just anyone or people educated in the rules and demands of seafaring? The latter of course, says Adeimantus, so why then, responds Socrates, do we keep thinking that any old person should be fit to judge who should be a ruler of a country? Socrates’s point is that voting in an election is a skill, not a random intuition. And like any skill, it needs to be taught systematically to people. Letting the citizenry vote without an education is as irresponsible as putting them in charge of a trireme sailing to Samos in a storm.’
Tyranny of the central banking system supported by the government and big corporations grinding small business into the dust. Throw in a pandemic and you have levered the process. So the US has adopted the Nazi system of government by banks and big corporations. No wonder we feel uneasy.