Comment: I am not an expert in this field but here is what I think: You cannot make predictions or formulate strategies based on the comparison to the debt/GDP ratio in the last decades of the XX century. Back then, the US (and generally the western countries) had a “real economy”. Today it is offshored. No revenues. Why? Because our investors wanted to cut their costs and increase their profits. Greed. This is the real reason why we are in this crisis today.
In late 1990s, I was teaching Grade 8 Human Geography and the then new textbooks for the first time read that we were no longer an “industrial” system, we were entering a new era, a system based on “services” – (read: we will not have to work hard). Today, even services are offshored – try to call the customer service of your internet provider or telephone company and you will talk to somebody in India or Malaysia or the Philippines. In the meantime, our societies have changed. Nobody wants to work anymore, everybody just wants to get the paycheck. This is what happens when there are no real jobs. Work ethics disappear, good (honest) business practices disappear. We are not able to fill the gaps created by sabotaged supply chains from abroad.
No production + no services = no real economy. Speculation and a middlemen-based model of economy are not going to replace it, They are actually bringing it down faster. You cannot take out of the system more than you are putting in, it is not sustainable. Covid did not help either. Lockdowns, bankruptcies, unemployment have further reduced the tax base and the governments had to borrow a lot of money to keep the country going. When you borrow more than you can pay back, the lenders are going to take over the public assets and privatize the states. This, too, was done deliberately as a way to collapse national states and implement one-world government. No surprises here.. Now, we will pay the price. And all of this happened under the watch of our incompetent and/or corrupted governments. The same political parties and the same politicians that are still asking us to trust them and to re-elect them.
Recently, a new narrative is entering the scene. All our economic problems are caused by the war in Ukraine and are being blamed on Putin and Russia. A war, by the way, that was provoked by NATO under the leadership of the US. Now, the elites can escape responsibility for the mess that we are in and can keep their loot. If this is not enough, we also have climate and energy crisis waiting in line and, of course, more “variants” and more “pandemics”. Like in a Swiss clock.
- Germany is rapidly increasing their defense budget – (Polish article)
- Belarus is getting ready for war – (Polish article)
- Japan Just Outlined Its Unofficial Remilitarization Plans
- Kissinger Nails It. for Once.
- UKRAINE SHOULD CEDE TERRITORY AND BECOME NEUTRAL STATE, KISSINGER SAYS
- China ‘wants quick resolution’ to Ukraine conflict
- Meet the New Boss; Putin Reroutes Critical Hydrocarbons Eastward Leaving Europe High-and-Dry
- India Begins Replacing the EU as Russia’s Major Energy Market
- India -Russia Military Cooperation: 85% of India’s Massive Military “Made in Russia”