TRYING TO UNDERSTAND SECULAR STAGNATION
- As you know, governments,
EU, IMF, ECB and the Fed try to deal with the problem by looking at just a few
variables in the whole picture: DEBT, QE and DEFLATION. (If the only thing you have
is a hammer -money, interest rates- everything looks like a nail).
- They ignore completely the
influence of bullshit jobs, immigration, automation, inequalities, do-goodism
and an ageing population. Because of self-image and electoral reasons, they
prefer to establish that those variables have almost no effect in the whole
mess.
- When you decide to become
blind to a big part of reality, all your efforts to change it will be
fruitless. You will not be able to handle such a web of interlinked variables.
- Both the Left and the Right
are responsible for creating and maintaining such a monster of interactions by
drawing on keynesianism and exporting debt to the future. Authorities pretend
to work hard for solving our problems, but they are just buying time to
accumulate money, retire as soon as possible, and send us all to hell.
<