25. Fictitious Wealth and the Coming Economic Collapse

Demographic Doom Podcast

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"Fictitious wealth" is assets that people think they have that cannot be realized in the long run. You can own stocks, bonds, real estate even cash in a mattress, but none of it has a secure value in the future. All assets are vulnerable to crash, and government actions over the past decade have assured that nearly all of them will. During the Global Financial Crisis, big governments and central banks worked together to rescue the economy, but all they really did is kick the can down the road. Particularly demaging are the runaway deficits of the U.S. government and the low interest rates of the Federal Reserve. Both have given rise to an "everything bubble" that is bound to pop in the 2020s. Glenn Campbell explains the mechanisms involved and how there is little hope for a non-catastrophic resolution. — Also see DemographicDoom.com + Instagram + Twitter. Comment on video at j.mp/dd_fiction [ep 25 - 21 Jan 2020]

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#Society #Philosophy #demographicdoom #Science #Social Sciences #Relationship #Glenn Campbell