Winston Churchill has always say deeply that "the more we delve into the past, the more we are able to see the future."
So, thinking of our "Donald Duck Economy" we should see what happened to the past to predict the future - see what happened to the "Greece Economy, France under King Louis XV and John Law, the Republic of China in the 1940s, Wilmar Republic, Hungary, Zimbabwe and currently Venezuela. All these are Donald Duck economy because it is an economy that is model on debt. An economy that is model on debt is not sustainable.
WHY?
Debt is the first sins of the financial system. If you created debt, you created sin. Thomas Jefferson echoes such words in the 1920s "Neither a debtor or a creditor."
If you have debt, you will have to pay back the amount you loan together with the interest.
Interest is the second sin.
Because of this second sin, "a debtor is always obliged to a creditor."
As a result of the first sin "debt" and the second sin "interest", all the economic model is in turmoil.
Debt and interest created a vicious cycle, that would swallow anything within its path, you named it - anything?
As a result, all government has to tackle debt, somehow or another?
But how?
How the government can tackle debt - the first sin?
1) Increase productivity
2) Force Borrower to cut spending - tighten the belt.
3) Austerity Measures - "Hair Cut" for defaulters so that they pay up their loans.
4) Draconian law - Transfer of wealth from "have" to "have-not"
5) Use the magic Printing Press.
These are the 5 sensible options a government can do.
If I am dying and my parting advice to my children will be "If you are hard-working, you will never die, even if you have to work in the street, for the rest of your life." This word is echoed by both Napolean Hill and Dale Carnegie as the basis of the success of post-war American.
(Caption: I been to Beijing a few years back and people are peddling the street with their fresh goods at 2 am in the cold. Can we compete with that type of productivity? No wonder the Chinese works wonders in the current era.)
However, the most government that failed as the above decided to follow the Donald Duck economy and activated the magic Printing Press, which seems to works wonders like magic in wonderland.
"Hey Presto, Money is created with the printing press."
"Fate favored those who are prepared."
Good Luck, Amigo!
Yours sincerely,
Dr Lion.
So, thinking of our "Donald Duck Economy" we should see what happened to the past to predict the future - see what happened to the "Greece Economy, France under King Louis XV and John Law, the Republic of China in the 1940s, Wilmar Republic, Hungary, Zimbabwe and currently Venezuela. All these are Donald Duck economy because it is an economy that is model on debt. An economy that is model on debt is not sustainable.
WHY?
Debt is the first sins of the financial system. If you created debt, you created sin. Thomas Jefferson echoes such words in the 1920s "Neither a debtor or a creditor."
If you have debt, you will have to pay back the amount you loan together with the interest.
Interest is the second sin.
Because of this second sin, "a debtor is always obliged to a creditor."
As a result of the first sin "debt" and the second sin "interest", all the economic model is in turmoil.
Debt and interest created a vicious cycle, that would swallow anything within its path, you named it - anything?
As a result, all government has to tackle debt, somehow or another?
But how?
How the government can tackle debt - the first sin?
1) Increase productivity
2) Force Borrower to cut spending - tighten the belt.
3) Austerity Measures - "Hair Cut" for defaulters so that they pay up their loans.
4) Draconian law - Transfer of wealth from "have" to "have-not"
5) Use the magic Printing Press.
These are the 5 sensible options a government can do.
If I am dying and my parting advice to my children will be "If you are hard-working, you will never die, even if you have to work in the street, for the rest of your life." This word is echoed by both Napolean Hill and Dale Carnegie as the basis of the success of post-war American.
(Caption: I been to Beijing a few years back and people are peddling the street with their fresh goods at 2 am in the cold. Can we compete with that type of productivity? No wonder the Chinese works wonders in the current era.)
However, the most government that failed as the above decided to follow the Donald Duck economy and activated the magic Printing Press, which seems to works wonders like magic in wonderland.
"Hey Presto, Money is created with the printing press."
"Fate favored those who are prepared."
Good Luck, Amigo!
Yours sincerely,
Dr Lion.
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