The deliberate suppression of wage growth via various wrongheaded policies over preceding decades has succeeded right into near-depression, and the geniuses think they can inflate their way out of it.
No employment growth, no wage growth and a fairly large swath of no wages at all cannot accomodate higher cost of living, and so such an attempt will only deepen the near-depression into a fullblown one, when consumers as a whole clamp down on every expense save basic subsistence. They’ll have no alternative, and so many are already teetering on the brink that even this will be insufficient to prevent dislocation.
It’s like somebody waved a magic wand over them and now they believe shovelling endless mountains of cash to commodities speculators, financial institutions and hedge funds really, will somehow save the day.
Fools, the lot of them.
“It’s like somebody waved a magic wand over them and now they believe shovelling endless mountains of cash to commodities speculators, financial institutions and hedge funds really, will somehow save the day.”
Yep. Keynesian policies sound so great to liberals — something for nothing. We can spend, spend, spend, our way out of our troubles!
What could be better than that?