“In a few words: the West is in decline and our leaders are greatly accelerating and exacerbating this decline. They can cover this up with redundant arguments about what is and isn’t a recession for so long. But at some point either the inflation will get worse — perhaps by gas shortages in Europe this winter — and/or the unemployment rate will spike. At that point, the underlying dynamics will become too obvious to ignore; for politicians and the general public anyway. Economists will likely find some other redundant nuance to debate and distract.”
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It certainly seems that the “can” has finally been kicked as far down the road as it can be. And, some very ugly economic “chickens” are going to come home to roost.
Instead of learning from the malaise in Japan, or the abject failures of previous “bailouts”, the politicians and bureaucrats have continued to increase their spendthrift ways.
“We, The Sheeple” are going to feel the pain!