This audiobook is narrated by a digital voice.
This book is about the mismanagement of Western economies in pursuit of political power, which resulting devastation will have to be borne by future generations. The book establishes that postponement is no longer doable and lays out the hard choices ahead causing much misery and agony.
The genesis of the problem was in 1971 when President Nixon abolished the gold standard established at Bretton Woods in 1944. Currencies were then given value by government decree and no longer had intrinsic value. This allowed for large budget deficits, unsustainable public debt, and the money "printing-press operation." The public debt of the USA has already exceeded $32 trillion, an astronomical number. It allowed countries to incorporate inflation in their economic planning, thus raising their costs of living. It also allowed for increases in the money supply with the consequence of widening income and wealth inequality. Corrective action would involve backing currencies with the Country's assets, eliminating/reducing debt unless for investment, prohibiting the targeting/planning of inflation, and establishing a relationship between the highest and lowest paid in an economy. The book proposes novel approaches to these issues, including income support for those impacted by these corrective measures, for developed countries have arrived at the end of the road.
This audiobook is narrated by a digital voice.
This book is about the mismanagement of Western economies in pursuit of political power, which resulting devastation will have to be borne by future generations. The book establishes that postponement is no longer doable and lays out the hard choices ahead causing much misery and agony.
The genesis of the problem was in 1971 when President Nixon abolished the gold standard established at Bretton Woods in 1944. Currencies were then given value by government decree and no longer had intrinsic value. This allowed for large budget deficits, unsustainable public debt, and the money "printing-press operation." The public debt of the USA has already exceeded $32 trillion, an astronomical number. It allowed countries to incorporate inflation in their economic planning, thus raising their costs of living. It also allowed for increases in the money supply with the consequence of widening income and wealth inequality. Corrective action would involve backing currencies with the Country's assets, eliminating/reducing debt unless for investment, prohibiting the targeting/planning of inflation, and establishing a relationship between the highest and lowest paid in an economy. The book proposes novel approaches to these issues, including income support for those impacted by these corrective measures, for developed countries have arrived at the end of the road.
End Of The Road: Political-Economic Catastrophe from Fiat, Debt, Inflation Targeting and Inequality
End Of The Road: Political-Economic Catastrophe from Fiat, Debt, Inflation Targeting and Inequality
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Product Details
| BN ID: | 2940192144909 |
|---|---|
| Publisher: | Louis Holder |
| Publication date: | 05/10/2024 |
| Edition description: | Unabridged |
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