Turbulent Times Ahead

How the world’s financial markets, combined with enormous government debts, will soon trigger another financial crisis

Image credit: BBC

Thanks to media-induced hysteria over SARS-COV-2, politicians around the world have scrambled to introduce ever-more-harmful policies that have wrecked economies, thrown hundreds of millions of people into penury, and created enormous (and totally unsustainable) levels of government debt.

Since World War II, Western governments have learned that the best game in town is to bribe voters with their own money. “Vote for me and I’ll create jobs!” “Vote for me and we’ll locate our new development in your town!” “Vote for me and I’ll cut taxes!” All these claims, and a great many more, are all predicated on the fact that ordinary people have no understanding of even the most basic economic realities. Thus people vote for politicians who promise them more free ice-cream than the other candidates.

How all that free ice-cream will be paid for is something that never troubles the minds of the vast majority of voters.

Not surprisingly therefore, government debt as a percentage of GDP has relentlessly increased since 1945, despite the fact World War II itself created hitherto unsurpassed levels of government debt. So we went from significant debt…