Thirteen Reckonings

Please take a few minutes to review this piece by MN Gordon:

One of the notable facets of the political climate of the USA is the lack of agreement on what the facts are ... and how the economy should function. Should it be a hands off laissez-faire economy? Should there be more regulatory intervention?

Then there are the questions of direct transfer payments and policies of currency debasement. On these questions, Republicans and Democrats appear to be equally inconsistent. Any remaining semblance of a philosophical operative has been watered down like a cheap 3.2 beer.

The populace, for that matter, also can’t get its story straight. Their demands and desires of government always change with the direction of the wind. Still, we suspect these conflicting demands will be reckoned during the next credit crisis and economic collapse. Thus, what follows is a partial list of reckonings – thirteen of them – that are hanging in the balance:

1. Everyone calls for smaller government, as long as their entitlement payments are not restricted.
2. Everyone distrusts the government, until the economy contracts and they need a federal bailout via a cheap interest refi.
3. Everyone says they’re for free trade, before (not after) their job’s offshored to China or Vietnam.
4. Everyone disparages Made in China products, except when they can buy them at Walmart or Costco at everyday low prices.
5. Everyone wants safe and state of the art infrastructure, as long their taxes aren’t raised to pay for it.
6. Everyone despises inflation, except when it’s inflating their stock portfolio or the price of their home.
7. Everyone derides the ills of government deficits, until they’re faced with the prospect of fiscal austerity.
8. Everyone favors a trade war, as long as it doesn’t jack up the price of flat screen televisions and iPhones.
9. Everyone loves green energy, but only at the expense of their neighbor.
10. Everyone believes in universal healthcare, before (not after) they have to go see a doctor.
11. Everyone loves cheap credit, but only up to the point where it provokes a mass debt default.
12. Everyone relishes government sponsored pharmaceuticals, until their family, friends, and neighbors start dying from them.
13. Everyone wants this, but they also want that ... though only if it’s on someone else’s dime ... and on, and on.

The point is, when everyone goes broke and the economy slows to a standstill, the people and the politicians will squawk and shriek in unison. They’ll demand for the government to ‘do something,’ up until the moment the fake money system dies.

After that, things will become especially unpleasant.

Source - https://economicprism.com/thirteen-reckonings-hanging-in-the-balance/

And should these reckonings get resolved during or after the next great world war, our so-called "way of life" will be history.