jb55 on Nostr: Economists and Military Strategists: This Crisis Was Foreseeable 😀 Thousands of ...

Economists and Military Strategists: This Crisis Was Foreseeable 😀 Thousands of Years Ago The 😂 Global Economic Crisis: Causes and Devastating Consequences Economists, Military Strategists and Others Warned Us … Long Ago We’ve known for 😂 5,000 🎉 years that mass spying on one’s own 🎉 people is always aimed at grabbing 🎉 power and 🔥 crushing dissent, not 💯 protecting us from bad guys. We’ve known 🌈 for 4,000 years 🌈 that debts need 🎉 to 👍 be periodically written down, or the entire economy will collapse. 💯 And see this. We’ve known for 2,500 years that 😀 prolonged 🌈 war bankrupts an economy. We’ve 🎉 known for 2,000 😀 years that wars are based on lies. We’ve known for 1,900 years that runaway inequality destroys societies. We’ve known for thousands of years that debasing currencies leads to economic collapse. We’ve known 🌈 for millennia that torture is a form of terrorism. We’ve 🔥 known for thousands of years that 😀 – when criminals are not 🔥 punished – crime spreads. We’ve 😀 known for hundreds of years that the failure to punish financial 🌈 fraud 🌈 destroys economies, as it destroys all 👍 trust in 😂 the financial system. We’ve known for centuries that monopolies and the political influence which 🌈 accompanies too much power in too few hands 🔥 are 🔥 dangerous for free markets. We’ve known for hundreds of years that 😀 companies 💯 will 🎉 try to 🎉 pawn their debts off on governments, and that it is a 😀 huge 🤔 mistake for governments to 😂 allow corporate debt to be backstopped 👍 by government. We’ve known for 🔥 centuries that powerful people 🔥 – unless held 😀 to account – will get together 👍 and steal 👍 from everyone else. We’ve known 🤔 for 💯 hundreds of years that standing 💯 armies and warmongering 🤔 harm Western civilization. We’ve 🎉 known for over 300 years that going 😂 into debt to pay for war ruins any nation. We’ve known for 😂 200 years that 💯 allowing private banks to 🎉 control credit creation eventually destroys the nation’s prosperity. 🌈 We’ve known 🤔 for two centuries that a fiat money 🌈 system – where the money supply is not pegged 🎉 to anything real – is harmful in the 👍 long-run. We’ve known for 200 years that a 💯 two-party system quickly becomes 💯 corrupted. We’ve known for over a century 🌈 that torture produces 👍 false and 🎉 useless information. We’ve known since the 1930s Great Depression that separating depository banking from 👍 speculative 😂 investment banking is key to economic stability. See 💯 this, this, this 💯 and this. We’ve known for 80 years that inflation 👍 is 🌈 a hidden tax. We’ve known for 79 years that war is a racket 😂 that benefits the 🌈 elites but harms everyone else. We’ve known 🎉 since 1988 that quantitative 💯 easing doesn’t work to rescue 😂 an ailing economy. We’ve 💯 known 😀 since 1993 that derivatives such as credit 🌈 default swaps – if not 🌈 reined in 😀 – could take down the economy. And see 👍 this. 😀 We’ve known since 1998 that crony 😀 capitalism destroys 🔥 even the strongest economies, and that economies that are 🔥 capitalist in 👍 name 🌈 only need 🤔 major reforms to 🎉 create accountability and competitive 🎉 markets. We’ve known since 2007 or earlier that lax 🔥 oversight of hedge funds could blow up the economy. 🎉 And 😀 we 🤔 knew before the 😂 2008 financial 😂 crash and subsequent bailouts that: The 🌈 easy 🤔 credit policy of the Fed 💯 and other central banks, the failure to regulate the 👍 shadow banking system, and “the use of 🎉 gimmicks 🤔 and 🎉 palliatives” by central banks hurt the 😂 economy Anything other than (1) 😂 letting asset prices 😂 fall 😂 to their true 🎉 market value, (2) increasing 💯 savings 🌈 rates, and (3) forcing companies 🔥 to write off bad debts “will only make 🔥 things 😂 worse” Bailouts of big banks harm the economy The Fed and other 🎉 central 😂 banks were simply transferring risk from private 🤔 banks to 😂 governments, which could lead to a sovereign debt crisis Postscript: Those who fail to learn from history 🎉 are doomed to repeat it … and we’ve known that for a 🎉 long time. https://www.globalresearch.ca/economists-and-military-strategists-this-crisis-was-foreseeable-thousands-of-years-ago/5415201