Welcome to the lockdown economy, brought to you by the American ruling class
There is no escaping economic reality.
Who would have thought that destroying real productivity, detonating supply chains, waging a war on reliable energy, printing trillions of dollars, and isolating workers in their homes for two years would have negative economic repercussions?
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Well, perhaps, anyone who understand the basic laws of economics, which, admittedly, has become an increasingly shrinking contingent within the American halls of power.
While the modern “Public Health Experts” have exposed themselves as dangerous charlatans, the credentialed modern “economist” has yet to meet the same perceptive fate in the eyes of the general public. Given the current state of the American economy, however, it’s time to take a closer look at the conventional monetary wisdom in D.C. and on Wall Street.
The economic actions taken “due to COVID” are responsible for our current state of affairs. Guided by the pseudoscience that is Keynesian economics, mainstream American economists in the academy and within the federal government insisted, with the total support of Congress and the White House, that our economic woes would be resolved through extensive money printing and other forms of “aggressive” monetary policy. To the Keynesian, there are no laws of economics, and the entire monetary enterprise can be sustained solely through faith in the system.
While the Keynesian himself is a True Believer in crackpot economics, their system functions as a means to benefit the already powerful and influential. So whether or not the ruling class actually subscribes to the ideology behind the system is a secondary undertaking, because they are clearly pursuing these policies.
Mark Moss @1MarkMoss
The Fed has 400+ economics PhDs & 150+ research assistants on payroll and access to the best real-time economic data before anyone else How did all these people, with their supposed “sophisticated understanding of economics,” screw up their analysis of inflation so badly? https://t.co/rNhlfPIYfj
Our current system of purposeful inflation through Fed and executive branch policy allows for even more wealth creation within elite circles, and it deprives those on the outside of the system from breaching the Wall St/Washington, D.C. monetary cartel.
Throughout COVID Mania, the Congressional and Executive Branch Uniparty in Washington, D.C. was happy to follow suicidal monetary policy in bipartisan fashion, endorsing the pseudo economists’ “expertise,” and printing trillions of dollars and debasing the entire monetary system “due to COVID.”
Now, in 2022, over two years into COVID Mania, we are presented with a toxic form of stagflation. The money printing and interest rate manipulation cocktail was introduced in part to kick the inflation bomb down the road even further. Now, the inflation bomb has reached the end of the road, and it has transformed into a nuclear inflation bomb.
What was presented as a war on a virus has fully evolved into a fully transparent economic and political war against the American people. And the American individual will be the first to experience the pain, while the institutions that created this mess will be the most insulated from the effects of COVID Mania monetary policy.
Today, in mid June of 2022, we have nothing positive to show for the years of government-induced restrictions on movement and prosperity. No lives were saved due to lockdowns. Health has not improved. Small businesses have not flourished. And yet, we are left with massive debt, weaker money, record inflation, and rising costs.
The fiat system and the power of the U.S. dollar has been headed south for decades, but in my view, it reached terminal velocity due to COVID Mania.
This is why I’m so bullish on Bitcoin.
To me, the calculation is rather simple.
Do you want your money controlled by The Federal Reserve, Janet Yellen, Mitch McConnell, Nancy Pelosi, and the like? Or, perhaps, consider the possibility that a free market, permissionless, censorship resistant, sound money will become the superior monetary network in the long term.
Unlike the March 2020 flash crash, the Fed and Treasury don’t appear to have any tools left in their arsenals. There will be no printing our way out of this one. Welcome to the lockdown economy, brought to you by the American ruling class.