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this post was submitted on 26 Feb 2024
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politics
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I know you mrrrkns absolutely hate it when furriners' talk about your politics, but it saddens me to see a fellow democracy in such a state. Both these guys are demented old f&@ks! These are the best candidates your democratic system can give you? Really? I know we Aussies have plenty to cringe about, but jeez!
Trump is a result of the systems failure to address underlying problems. The underlying problems can all be associated with a single common source: Inflation.
Governments printing money at a rate greater than value is created in the economy, nets you inflation - and that has been going on since around the mid 90's in a very real way, and even before that. We can more or less call this the "NeoLiberal Era" if you like. Around the 90's is when things get bad - and to more or less cover it up, the CPI was manipulated (read: Fixed like you would fix a wrestling match) to make inflation look acceptable - in reality: Replace Steak for Ground beef in the CPI shopping cart and tell people it's still relevant.
End of the 90's you get the ,Com bubble and crash. 2008 Market Crash - and you get "Quantitative Easing" being sold as a fix - when all it is is, PRINTING MONEY. Then during the pandemic a huge push to shut down the economy (largely impacting the lowest wage earners the hardest just FYI) requiring the government to provide stimulus, coupled with grands, loans, and such to businesses in hopes they would keep people employed (hint: They didn't). And so we have had a series of the most NeoLiberal thing possible: Publicize the risk, privatize the profits, and screw the poor over in the process.
The fix: Reduce the Money Supply. Drive to a negative inflation number. But the kicker is? The wealthiest hedge funds, realestate investors, and what not would basically go belly up from that type of move. And why? Because if inflation lowers - the debts accrued cost more to maintain the interest on, than they can gain with inflation flipping for real profit over time. Once you reduce the money supply by at this point about 2/3eds - we can move to aiming for a 0% inflation number. The government should at that point be focused on reducing debt one way or another.
The real problem for the US Economy is, if any action is taken to reduce the debt - it will be a clear signal that the US economy is not gaining value, and that the Dollar Value is currently overvalued. And that could in a very real way cause a spiral. And a fear of the Spiral is making the long term problem worse as it's kicked down the road.
By the way: You can take the US out of this and replace just about any western nation into the mix and find the same problem. Actually, China really fits in here. And oh boy a correction is coming and it's going to be ugly.