With the pandemic dominating the news cycle, the general public has been completely distracted from a much more important crisis; namely, the economic crisis. To be sure, economic decay is not as swift or exciting, but I doubt that’s why the mainstream media mostly ignores the issue. From my experience, the media tends to omit coverage of the things they don’t want the population to notice or think about.
Right now, the only word spoken on the economy is “recovery”. Of course, if you’ve been reading my recent articles, you know that the recovery narrative is nonsense. With the small business sector on the verge of collapse, the U.S. economy has no means to recover unless we see a sudden resurgence in industrial production and domestic factories built, and with corporate debt at historic highs, there’s simply no money for that right now. Good luck trying to bankroll a manufacturing renaissance in the middle of a stagflationary environment.
That’s not to say that the rest of the world is much better off, but the U.S. suffers from the added weight of its past financial and monetary “success”. Let me explain…
Recent generations have grown up conditioned to believe that, through the power of central bank fiat currency, all problems can be solved. There has even been a concerted effort within the media to support this lie. Remember when propaganda rags like The Atlantic claimed that central bankers like Ben Bernanke were “the real heroes” saving the economy?
That’s the narrative young adults and investors today have grown up with. Now, whether they believe it is another matter, but as we can see in the world of Robinhood stock trading, there has been little concern for the concept of “bubble markets”.
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