alt Hacker NewsIn fact, the problem is that they keep bailing us out of recessions, which will eventually lead to a collapse and possibly a depression.
2019: That bond bailout you didn't hear about
2020: COVID bailout
2022: Various credit/liquidity facilities and the slow-walked rate hikes
2023: Bank bailouts
I dunno what happens this time. So many cards have been played out and a lot of entities seem to be white-knuckling it.
The boom-and-bust cycle is a natural consequence of running an economy on debt: margin leads to speculation which leads to overheating, and then it has to cool off. It is entirely possible to guarantee the public's welfare during busts; you just have to sacrifice not having a ceiling on earnings/wealth.
If we are lucky, all of this will not matter if we reach post scarcity.
Would be even really really good if we would start breaking through barriers regarding state spending and allowing more to do so in a way that inflation is not affected.
Like allowing every state on the planet to 'spend' money on certain things like renewable or teachers or care workers.