This scholarly book is extremely interesting to understand our current macroeconomic issues.
The economic growth is based on an accurate time line, making a difference between the generations .... The savings and the loans from the young labor force are creating a capital for some productive projects .... and make run the Economy.
However, the current crisis is about the DEMAND. It s also a crisis about the CAPITAL. Most of the Financial assets are really VIRTUAL, not backed by something tangible.
The transfer between the generations and the welfare state are disappearing... The Globalization for 25 years has moved us to reach the cheapest place of production in a run into mediocrity.
Too much unsustainable social promises have been made .... Too much financial assets have been created as a virtual capital. TOO MUCH GOODS HAVE BEEN PRODUCED.
INFLATION and DIVIDENDS are not an increase of wealth, but a lose of purchasing power.
Physical Gold and Silver have been monetary assets because they could be MEASURED.
Nowadays, the FINANCIAL LIQUIDITY IS DEEPLY AVAILABLE AS A MEDIUM OF EXCHANGE BUT NO MORE AS A STORE OF VALUE.
In many antique monetary systems, some kind of coins were minted to be hoarded, others to circulate.
No comments:
Post a Comment