Here is a hypothetical scenario. It is based on insiders and outsiders. If you can call the President of the United States on the phone and talk to him you are an insider, otherwise you are an outsider. As Dan Aykroyd so elegantly showed in the movie Trading Places, outsiders, standing in the cold rain, get to press their nose against the glass and see what the insiders are enjoying.
Twenty years ago I read a book called ‘Blowback’ and the basic theme was that the illegal drug trade was so profitable that it kept the US gov’t, banks and stock exchange from cratering because of a century of mis-management via wars, taxes and paper money; that all our wars were just excuses to let the government do whatever it wanted and keep the whole charade going longer. The War on Drugs was really a war on individual freedom and their constitutional protections – drug criminal has no rights: to be accused is to be guilty.
The best remaining scam other than printing money and illegal drug trade is healthcare, where else can you sell emergency room stitches for $1000 apiece? If you get admitted to a hospital it is $6,000 per night hotel with bad food, no bar and for that pleasure you will get woken up every four hours to check vitals: blood pressure and temperature. Should they do anything to you that number goes higher quickly.
Eight trillion dollars were printed and $300 billion given to individuals. Where did the other seven trillion seven hundred billion and change go? Guaranteed we will never know. So now Blowback makes more sense – freedom for financial innovation i.e. scams is getting more limited.
The US is now well over the point where national debt being is greater than one year pre-covid GDP and realistically after printing 20 trillion dollars, a dollar for dollar accounting effort is not only unlikely, it is probably also hopeless; pretty much any fiscal responsibility is long gone. Trump/Biden are now in a race to see who wants to give away the most $$ for election.
When the US economy gets a cold (recession) all the other economies go on life support (depression) so by that logic crippling the US economy will kill others around the world.
The drums are beating now against Russia/China. Everyday you hear something new about them. Our gov
Article from LewRockwell