You talk about the future, and say it is now. No contradiction there.
New predictions come out every day: this will happen, that will happen - and so far, no one has been right, though some have been right for a while.
You say you know how and when events will occur. I say you don't; nobody knows exactly how things will come out.
You say you know how economics works; I say that sometimes, nobody knows.
The following is fact, not opinion:
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"Japan went from being inflation-shy to actually wanting to cause inflation, and it attempted to do so by following conventional economic advice that inflation can be caused by government deficits, and — economic sin of sins! — “printing money”. During the 1990s, the Japanese government ran deficits equivalent to more than 6 per cent of GDP—not a trade deficit, a government deficit: an excess of government spending over taxation. Surely that would have done the trick.
It didn't. Japan is still running the second highest government deficit as a proportion of GDP in the OECD (the Czech Republic takes first place) — but inflation has remained stubbornly stuck on or near zero.
Printing money also had no effect. In one year, the government engineered an increased in M1 — the segment of the money supply more directly under its control — by over 27 per cent. Inflation remained negative that year: even “printing money” didn't cause inflation."
debunking-economics.com
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The future will be hard, no question. But it is survivable. Many predictions made here have turned out to be wrong, with more to come.
If the US chooses default, then a different future will await:
The country that paid its debts
bof.fi
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Nobody knows the future. Those who say they do suffer delusions of clairvoyance.
The future will be very, very difficult. YES.
How difficult?
There are more possible futures than you have imagined.
Jim |
