A good rundown of the historical situations. I am surprised nobody seems to see the income tax code as one of the major factors that support blind belief in competitive fanatic investment (and coerced “retirement” investments). The system is based on encouraging blind consumptionism with debt while discouraging useful work in favor of accounting tricks, disinformation and inflation. The economic activities that support long term value (people meeting other people’s needs and future people’s needs by increasing value of resources) have been exchanged for short term monetary price bloat and deceptive pricing by externalized costs.
One telltale of disconnected reality to me is how we’ve lost millions of productive and consuming human beings in a year, yet the markets for commodities are going up, not down.
Speculation on houses, war and inflation seems to be the “new economy" and Modern Monetary Theory is based on 5 more planets than are available.
“This time will be different"…if we actually find them.
Once again after the crash, millions will be asking, “Where did the money go?!”
It was never there. There’s only the perception of it. That’s the meaning of the old saying, “We know the price of everything and the value of nothing.”
Now everyone is racing against everyone else to the top of the inflation pyramid with a side trip to the gun store.
Yeah, this time is different.