Who would have thought that destroying real productivity, detonating supply chains, waging a war on reliable energy, printing trillions of dollars, and isolating workers in their homes for two years would have negative economic repercussions?
Well, perhaps, anyone who understands the basic laws of economics, which, admittedly, has become an increasingly shrinking contingent within the American halls of power.
Fears of a recession as Wall Street enters bear market – Dow, Nasdaq and S&P 500 plummet up to 20% and close lower than when Biden took office https://t.co/rBIkEID3zo
— Daily Mail Online (@MailOnline) June 14, 2022
While the modern “Public Health Experts” have exposed themselves as dangerous charlatans, the credentialed modern “economist” has yet to meet the same perceptive fate in the eyes of the general public. Given the current state of the American economy, however, it’s time to take a closer look at the conventional monetary wisdom in D.C. and on Wall Street.
The economic actions taken “due to COVID” are responsible for our current state of affairs. Guided by the pseudoscience that is Keynesian economics, mainstream American economists in the academy and within the federal government insisted, with the total support of Congress and the White House, that our economic woes would be resolved through extensive money printing and other forms of “aggressive” monetary policy. To the Keynesian, there are no laws of economics, and the entire monetary enterprise can be sustained solely through faith in the system.
While the Keynesian himself is a True Believer in crackpot economics, their system functions as a means to benefit the already powerful and influential. So whether or not the ruling class actually subscribes to the ideology behind the system is a secondary undertaking, because they are clearly pursuing these policies.
Their job is to create inflation. https://t.co/5T5ZeGzanj
— Jeff Deist (@jeffdeist) June 9, 2022
Our current system of purposeful inflation through Fed and executive branch policy allows for even more wealth creation within elite circles, and it deprives those on the outside of the system from breaching the Wall St/Washington, D.C. monetary cartel.
The post Welcome to the Lockdown Economy, Brought to You by the American Ruling Class appeared first on LewRockwell.