Idontbelonghere
Active member
- Joined
- Feb 24, 2020
- Messages
- 323
- Reaction score
- 42
- Gender
- Undisclosed
- Political Leaning
- Private
With Bailouts, Governments Are the Big Winners | Mises Wire
One thing is pretty certain: without government intervention, without their market manipulations, the unbacked money system could no longer be maintained.
And that should make citizens extremely concerned indeed. Crises regularly lead to an increase in government power. The causes of crises are habitually mis- and reinterpreted: the free market has failed, it will be said, and now only the state can help—even though the state and its central bank are the main culprits causing financial and economic crises.
They are the ones who started and encouraged the debt economy with their unbacked paper money system, a system that sooner or later must collapse. This time, the trigger of the crisis is the concern about the consequences of the coronavirus. How aggressively the states intervene in the global market and societal system also plays an important role; that is, the extent to which states seize the opportunity to expand their power.
At some point we’re gonna have to mature beyond red team/blue team...
One thing is pretty certain: without government intervention, without their market manipulations, the unbacked money system could no longer be maintained.
And that should make citizens extremely concerned indeed. Crises regularly lead to an increase in government power. The causes of crises are habitually mis- and reinterpreted: the free market has failed, it will be said, and now only the state can help—even though the state and its central bank are the main culprits causing financial and economic crises.
They are the ones who started and encouraged the debt economy with their unbacked paper money system, a system that sooner or later must collapse. This time, the trigger of the crisis is the concern about the consequences of the coronavirus. How aggressively the states intervene in the global market and societal system also plays an important role; that is, the extent to which states seize the opportunity to expand their power.
At some point we’re gonna have to mature beyond red team/blue team...
