Wattie
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It’s popped mate, you watch the fallout develop over the next few months......debt defaults everywhere and de-leverage.It is crazy how many people see this and know this. Yet we keep still keep driving down the wrong road. Must be a man driving saying it is definitely this way! Never to stop and ask for directions from local people in the know. Never stopping to turn around and go back to where we just came from to find the right road instead.
There are so many similar scenarios. A gambler up to his eye balls in debt only to genuinely feel borrowing more to gamble again to gain one good big win to get all the debt back. It never often ends well.
This trickle down economics theory is not even great in theory as we know we don't live in utopia. We know that top 1% do things in the main for themselves and for their own personal betterment. So why do we think trickle down economics would work. It doesn't.
That same theory is even more flawed from a social perspective. You are creating bigger class divides as well as bigger wealth disparity.
It amazes me how we let this happen and that we continue to do so. We have same amazingly clever and estute people on this planet...some amazing brains. Why don't we use them? Not for complete personal betterment but just doing the right thing.
Trickle down economics means we have these scenarios where the some of very richest billionaires created due to this idiology gift millions/billions to good causes.....sometimes. Less than more I hasten to add. However we wouldn't need trickle down economics if it were done right in the first place. It is another plaster at a point travelling down the wrong road.
Maybe we could turn around and drive back a bit to find the right road to travel down. We would actually get to the ideal destination much quicker.
Or we could carry on driving at high speed at high risk down the wrong road. We may do a Dukes of Hazard style jump over a massive hole and land in one piece also still be OK. In the movies that always ends OK. Not sure if we did this in real life it would!
We might find out at some point though. When....I don't know. I though it had to be soon but maybe it isn't. I wonder how much more air we can keep pumping in before the bubble pops? I don't think anyone really knows but we sure as h3ll will know when it has happened.
Money printing hasn’t fixed anything.
Oh and remember, we’re in for years with Covid- it ain’t going away.