A growing population and increasing productivity are inevitably resulting in unsustainable growth and overproduction. This ought to lead to deflationary recession, actually. However, governments have been delaying the day of reckoning by juicing demand with cheap money, largely because the entire structure is driven by debt which relie…
A growing population and increasing productivity are inevitably resulting in unsustainable growth and overproduction. This ought to lead to deflationary recession, actually. However, governments have been delaying the day of reckoning by juicing demand with cheap money, largely because the entire structure is driven by debt which relies on growth for repayment. So, the debts will be repaid but with devalued money. Pain falls mainly on those with no recourse to the public trough. But there is Stein's Law: "If something cannot go on forever, it will stop."
A growing population and increasing productivity are inevitably resulting in unsustainable growth and overproduction. This ought to lead to deflationary recession, actually. However, governments have been delaying the day of reckoning by juicing demand with cheap money, largely because the entire structure is driven by debt which relies on growth for repayment. So, the debts will be repaid but with devalued money. Pain falls mainly on those with no recourse to the public trough. But there is Stein's Law: "If something cannot go on forever, it will stop."