How is that better?īut don’t reverse the causality. Now they get to wear a vest and stack shelves. Before the bloodsucking ticks came along, people could build a business instead of getting a job. “At least we have jobs.” How is that progress? Jobs, everywhere. But these companies have long-distance suckers that lift a town’s money away from the local community. Supermarkets are like giant, bloodsucking ticks. If the guy stacking shelves looks a bit depressed, it’s probably because his father or grandfather once owned a butchery and decided to trade his inheritance for some short-term cash. Just by walking into Countdown, people don’t realise they are encouraging economic decay. It is they, the public, who have been killing community business for decades all because they wanted to save 14c on a floor mop.įor example, when the Butcher Jacks franchise collapsed a few years ago, where was the outrage? The local butcher is mostly gone now, replaced by a giant supermarket. They even blamed the RBNZ governor because most of the money the central bank printed during this time ended up flowing to larger corporates that had more-efficient supply chains and could take advantage of the sudden lack of small business competition.Īs the governor, you want desperately to tell the public that it wasn’t Covid-19 or the money printing that destroyed local businesses. Plenty of people were angry at the government for wiping out so many valuable community companies. They didn’t “suspend operations.” In just 12 months, they closed their doors forever. ![]() The same thing occurred in every developed country. For one thing, due to the government’s Covid-19 response, 30-40% of small businesses no longer exist. And as the central bank governor, you are paid a lot of money not to tell the public the answer to this question.īut the Great Reset has already happened. After all, if something cannot go on forever, then it must stop. Every Kiwi feels, deep in their bones, that a reset is coming. The strange thing is: you are hired to do this job because the public does not want a Great Reset, at least not yet, not during their lifetime. It is your job to kick the can down the road. But it is not your job to fix this problem. Everyone in your office knows it is the average Kiwi’s snowballing degeneracy and narcissism that created the eyewatering numbers in that nightmarish spreadsheet. Again, you can see the numbers in front of you. The solutions are impossible because they involve talking directly to the real culprit – the public. But none of them is possible to enact because your job is not to fix the economy, it is to manage its decline towards an inevitable terminal point that you hope will occur during the tenure of a future central bank governor. You know there are real, tangible and immediate solutions to all of these fiscal illnesses. And then you realise you are in this situation precisely because your predecessors decided to print money. But as the governor of the country’s central bank, you know there is no such thing as a free lunch and although printing money might fill a gap today, it will hurt future generations. If the government is in trouble financially, it can just print more money. Obviously, a nation-state is not analogous to a family household. But when the algorithm spits out a single number at the bottom, you realise it in no way matches the number at the end of the other column that reads: income. It’s complicated and there are many layers to it. ![]() You see the spreadsheet column that shows accrued debt over half a dozen generations. Every time you look at the country’s balance sheet your face goes white as a sheet.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |