Post by NFA on Aug 8, 2024 19:12:20 GMT 8
The Emergency Deepens
The real economic crisis was kicked off with the lockdowns of March 2020. Since then, the whole system has been held together with scotch tape and bubble gum, plus an overlay of manipulated data. So the panic that has suddenly hit – recession in the air! – is not about underlying realities but sudden revelations.
Brownstone readers knew this all along of course. But as usual, the situation is worse than is being admitted. The inflation rate over four years is extremely high, so much so that we are still trying to get a read on the specifics. The stimulus payments of 2020-21 dramatically accelerated the offshoring of production. The debt is rising in ways that induce fainting.
Now we have the present administration calling for nationwide rent controls. Even during the Great War, that didn’t happen. Such talk is really without precedent, and will only lead to further shortages. Such brutal tactics of control are coupled with a continued refusal to admit the truth: the calamity was caused by a fire-hot printing press that created a phony-money boom followed by an ongoing bust.
So yes, we already know the next stage: an out-in-the-open economic and possibly financial crisis. The elite classes, meanwhile, are in a continued state of denial, and ready to scapegoat anyone with fundamental doubts about the wisdom of their masters in government, media, tech, and medicine.
The real economic crisis was kicked off with the lockdowns of March 2020. Since then, the whole system has been held together with scotch tape and bubble gum, plus an overlay of manipulated data. So the panic that has suddenly hit – recession in the air! – is not about underlying realities but sudden revelations.
Brownstone readers knew this all along of course. But as usual, the situation is worse than is being admitted. The inflation rate over four years is extremely high, so much so that we are still trying to get a read on the specifics. The stimulus payments of 2020-21 dramatically accelerated the offshoring of production. The debt is rising in ways that induce fainting.
Now we have the present administration calling for nationwide rent controls. Even during the Great War, that didn’t happen. Such talk is really without precedent, and will only lead to further shortages. Such brutal tactics of control are coupled with a continued refusal to admit the truth: the calamity was caused by a fire-hot printing press that created a phony-money boom followed by an ongoing bust.
So yes, we already know the next stage: an out-in-the-open economic and possibly financial crisis. The elite classes, meanwhile, are in a continued state of denial, and ready to scapegoat anyone with fundamental doubts about the wisdom of their masters in government, media, tech, and medicine.