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RE: The Walking Debt and The Starving Child: Welcome to the Upside Down Economics of Kicking the can Down The Road to get High on Assets that Doesn't Exist
This is exactly what I'm talking about and many people are missing this point. I almost feel like Ayn Rand after writing Fountainhead. People don't understand the mechanics of the system. They only see the suffering caused by it.
The current debt based economy isn't something payable. It won't increase production, instead it'll just burrow from the future and end it all. The economy is punishing savers. Such economy is bound to get REKT.
Very low interest rates punish savers but we are starting to see them come up.
I don't think you understand how bad this situation is, I don't think that theres more than a handful who understand. Problem is that all those measurement's you are referring to are not legit. Not that those has been modified for years to fit the goverments wishes, but also as far as I'm aware of, lot of those measurement's assume labor to have some form of value. In this labor worshipping times it is considered that labor, no matter where, is having some kind of positive value. That causes thinking that it is better to pay 1M to a company for it run a little longer, than handing that money directly to everyone, even if the company is never going to make one cent and pollutes envirovment.
which company?
Well, in usa they provided some kind of tax relieves to that one big airplain company, though it may not have been excactly for reasons I talked about. I live in finland and there was this fucked up mining project, were they at the end threw money just to keep the jobs, rather than handing it to people directly.
And during the 2008 crash the governemnt bailed out the banks which were leveraged to death instead of paying off the defaulted debt (which is still a terrible thing on a long term but less of a bad thing is better).