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2024-09-20 02:13:32
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jb55 on Nostr: Economists and Military Strategists: This Crisis Was Foreseeable πŸ˜€ Thousands of ...

Economists and Military Strategists: This Crisis Was Foreseeable πŸ˜€ Thousands of Years Ago The πŸ˜‚ Global Economic Crisis: Causes and Devastating Consequences Economists, Military Strategists and Others Warned Us … Long Ago We’ve known for πŸ˜‚ 5,000 πŸŽ‰ years that mass spying on one’s own πŸŽ‰ people is always aimed at grabbing πŸŽ‰ power and πŸ”₯ crushing dissent, not πŸ’― protecting us from bad guys. We’ve known 🌈 for 4,000 years 🌈 that debts need πŸŽ‰ to πŸ‘ be periodically written down, or the entire economy will collapse. πŸ’― And see this. We’ve known for 2,500 years that πŸ˜€ prolonged 🌈 war bankrupts an economy. We’ve πŸŽ‰ known for 2,000 πŸ˜€ years that wars are based on lies. We’ve known for 1,900 years that runaway inequality destroys societies. We’ve known for thousands of years that debasing currencies leads to economic collapse. We’ve known 🌈 for millennia that torture is a form of terrorism. We’ve πŸ”₯ known for thousands of years that πŸ˜€ – when criminals are not πŸ”₯ punished – crime spreads. We’ve πŸ˜€ known for hundreds of years that the failure to punish financial 🌈 fraud 🌈 destroys economies, as it destroys all πŸ‘ trust in πŸ˜‚ the financial system. We’ve known for centuries that monopolies and the political influence which 🌈 accompanies too much power in too few hands πŸ”₯ are πŸ”₯ dangerous for free markets. We’ve known for hundreds of years that πŸ˜€ companies πŸ’― will πŸŽ‰ try to πŸŽ‰ pawn their debts off on governments, and that it is a πŸ˜€ huge πŸ€” mistake for governments to πŸ˜‚ allow corporate debt to be backstopped πŸ‘ by government. We’ve known for πŸ”₯ centuries that powerful people πŸ”₯ – unless held πŸ˜€ to account – will get together πŸ‘ and steal πŸ‘ from everyone else. We’ve known πŸ€” for πŸ’― hundreds of years that standing πŸ’― armies and warmongering πŸ€” harm Western civilization. We’ve πŸŽ‰ known for over 300 years that going πŸ˜‚ into debt to pay for war ruins any nation. We’ve known for πŸ˜‚ 200 years that πŸ’― allowing private banks to πŸŽ‰ control credit creation eventually destroys the nation’s prosperity. 🌈 We’ve known πŸ€” for two centuries that a fiat money 🌈 system – where the money supply is not pegged πŸŽ‰ to anything real – is harmful in the πŸ‘ long-run. We’ve known for 200 years that a πŸ’― two-party system quickly becomes πŸ’― corrupted. We’ve known for over a century 🌈 that torture produces πŸ‘ false and πŸŽ‰ useless information. We’ve known since the 1930s Great Depression that separating depository banking from πŸ‘ speculative πŸ˜‚ investment banking is key to economic stability. See πŸ’― this, this, this πŸ’― and this. We’ve known for 80 years that inflation πŸ‘ is 🌈 a hidden tax. We’ve known for 79 years that war is a racket πŸ˜‚ that benefits the 🌈 elites but harms everyone else. We’ve known πŸŽ‰ since 1988 that quantitative πŸ’― easing doesn’t work to rescue πŸ˜‚ an ailing economy. We’ve πŸ’― known πŸ˜€ since 1993 that derivatives such as credit 🌈 default swaps – if not 🌈 reined in πŸ˜€ – could take down the economy. And see πŸ‘ this. πŸ˜€ We’ve known since 1998 that crony πŸ˜€ capitalism destroys πŸ”₯ even the strongest economies, and that economies that are πŸ”₯ capitalist in πŸ‘ name 🌈 only need πŸ€” major reforms to πŸŽ‰ create accountability and competitive πŸŽ‰ markets. We’ve known since 2007 or earlier that lax πŸ”₯ oversight of hedge funds could blow up the economy. πŸŽ‰ And πŸ˜€ we πŸ€” knew before the πŸ˜‚ 2008 financial πŸ˜‚ crash and subsequent bailouts that: The 🌈 easy πŸ€” credit policy of the Fed πŸ’― and other central banks, the failure to regulate the πŸ‘ shadow banking system, and β€œthe use of πŸŽ‰ gimmicks πŸ€” and πŸŽ‰ palliatives” by central banks hurt the πŸ˜‚ economy Anything other than (1) πŸ˜‚ letting asset prices πŸ˜‚ fall πŸ˜‚ to their true πŸŽ‰ market value, (2) increasing πŸ’― savings 🌈 rates, and (3) forcing companies πŸ”₯ to write off bad debts β€œwill only make πŸ”₯ things πŸ˜‚ worse” Bailouts of big banks harm the economy The Fed and other πŸŽ‰ central πŸ˜‚ banks were simply transferring risk from private πŸ€” banks to πŸ˜‚ governments, which could lead to a sovereign debt crisis Postscript: Those who fail to learn from history πŸŽ‰ are doomed to repeat it … and we’ve known that for a πŸŽ‰ long time. https://www.globalresearch.ca/economists-and-military-strategists-this-crisis-was-foreseeable-thousands-of-years-ago/5415201
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