Willful Blindness, Societal Rift & Death Of The Dollar

 

Summary

Thoughtless monetary policy is sold to the public in the name of the greater good. What these purveyors of deceit fail to expand on is whose greater good. The graph below shares a recent quote from Jerome Powell in which he indirectly claims each successive economic recovery has been stronger than the prior one. He implies that monetary and fiscal actions to arrest slower economic growth results in stronger future economic growth.

As shown in the graph, his statement is patently false.

dollar, Willful Blindness, Societal Rift & Death of the Dollar

Aggressive monetary policies funding immense fiscal spending will only widen the wealth gap and further slow economic growth, as it has done in the past. At the same time, said policies drive more people to seek shelter from the rapidly devaluing dollar. Speculative investments will further dominate, leaving less capital for productive investment. Productive investments build economic growth and help everyone prosper.

Ignoring history and logic may be expedient but it only aggravates our societal and economic problems.

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