October 20, 2021

A global economic collapse? Hmmm. We haven’t had one of those for a while » MercatorNet

How many times have we heard that not enough children are bad for the economy? True enough – but throughout history folks have cared more about faith, folk, and soil than any economy. Our ruling class has forgotten that. But maybe the general population has also forgotten, hence today’s birth dearth.

Another lesson forgotten: an economy should exist to serve the people, not the other way around. Years ago, Ross Perot tried to tell us that, but was practically laughed out of the US presidential race for doing so.

The lack of young people is changing the world economy. But it may change things in ways previously unforeseen. Some background:

Beginning in the 1980s, the global economy transitioned from an asset-based system to something more daring: a credit-based system, where everything hinges on debt financing, which enables much mischief. This led to the…

Read full article here: mercatornet.com