Summary
One could hypothesize that we are in a recession because stagnation is infectious. You cannot talk about it. Life, according to the business elites and governing officials, is often portrayed as “the big beautiful this and that,” A phrase used to gloss over the underlying economic issues. But the underpinnings are not there to prove it up. This is a call to action, a wake-up call to the underpinnings that are missing.
Article:
I have recently written three articles to support my point, all of which are available on my website.
· https://danharkey.com/post/mcmansion-blues-in-many-cases-the-transition-is-not-worth-the-hassle
· https://danharkey.com/post/all-governments-have-the-propensity-of-robbing-peter-to-pay-paul
· https://danharkey.com/post/wimpy-buy-now-pay-later-a-lesson-in-government-spending
Deficit spending creates the illusion that everything is excellent by juicing the economy with free money. All that is required is for the Federal Reserve to access its computers and type in “gimme another trillion this month,” thereby covering up systemic failures of its actions. Deficit spending causes inflation, which in turn reduces the purchasing power of the dollar. Additionally, the newly created fiat currency becomes an additional national debt, which no one pretends ever to pay back.
Only through the mechanism of inflation and the simultaneous reduction of dollar value does this continuous Ponzi scheme work. Ordinary people, who suffer the most, end up on a financial treadmill, trying to keep up and feeling the full weight of the inflation crisis.
The entire system is a façade for bad governance. We thought that by electing a Republican President, some financial sense would arrive, but it hasn’t. The “Big Beautiful Bill” perpetuates the same Keynesian economics that have dominated the last 100 years. Instead of minimal improvements, we need historic and bold reforms. Reducing dependency and reforming the administrative state, which employs 7 to 9 million federal employees, including agencies, contractors, and institutions, has proven to be a challenging task, but it’s a necessary step towards significant change.