Can the ponzi last through the next election cycle?
Fitch downgraded the United States’ long-term credit rating as expected. This is basically the reason:
Thank you Barak, Donald, Joe, Janet, Jerome, Ben, US Congress et al.
My question is, can the ponzi last through the upcoming election cycle? Instability rears its ugly head from time to time like an alcoholic realizing he is slipping into the abyss. SVB bank, commercial real estate, Fitch credit ratings....
How easy or difficult will it be for the party in power to pin it on the other party?
Oh well, I guess we'll just let the good times roll... for now.
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@LordShadowfire Historically it has served us well. Humans live like kings and queens compared to even a hundred years ago. Money has played a role in that.
Like Keynes said "We're all dead in the long run." The problem is that this is Keynes' long run. Keynes and his contemporaries are dead, and we're still alive to face the consequences.
@irishmolly72 You have previously just slandered Keynes with shallow right wing talking points so I guess you are disingenious but I will give it a shot anyway to argue in favor of Keynes when the alternative is Hayek, Friedman and other neoliberal economists.
Keynes was more realistic his approaches mandated some government control to help the economy when it is doing poorly, and to get it started. Also, Keynes realized that the individual worker was the backbone of the economy, so if you don't keep employment up, the bottom falls out.
Hayek was a businessman in his ideas. He thought there should be less regulation, and didn't care if unemployment was high as long as companies had enough production to grow and expand. Basically, companies would run unregulated. The US still faces the effect of Reagans Trickle Down insanity that has broken the US economy.
Money is an unfortunate choice humanity has made to organize its production with.
@irishmolly72 If it isn't backed up by credible sources and relevant to the practice it's just immature right wing talk.
You know that government spending can create jobs and wealth even if you and other righr wingers love to claim the opposite. What Republicans and Hayekians and the other right wingers hate about Keynes is that he explained how poverty and scarcity and struggling to make a living and competing just for basics are all unnecessary.
@irishmolly72 Before 600 B.C.E there was no monetary system in Greece for example so you aren't correct. Also I am not saying currency never had its practicality.
