I agree with you - the money should be invested in the middle class and supporting the poor with the tools to get out of poverty. For example, my job is assisting people enduring energy poverty with government grants. My job is just a band-aid for a broken system. I'm not making any real change, but I'm working within this structure of corporate profits over providing for the good of the majority. I honestly wish more people could witness what I'm encountering. People who have worked their entire life can't afford to keep warm in the winter or cool in the summer, so they suffer. It makes me sick.
The US persecutes and censors media and journalists too. China uses components of the free market, and Russian oligarchs control the country. All three countries have bad governments. Since the 80s, the government has become more bureaucratic and bigger, and ya. It's shit. We have more restrictions and fewer services because of the incompetent structure to benefit a small minority.
The free market doesn't exist. The Fed controls it. I just wrote an essay on Medium about what's happening. The Fed's money creation causes inflation because the money is centralized in the global financial market. As USDs get pumped through foreign central banks, the money gets transferred to private banks, and it's held there or invested in big corporations. Housing and financial firms' returns have been so high during the pandemic because of the Fed's actions. Worldwide, the Fed causes the inflated housing and financial market. Countries with insufficient resources to spend the money (Mexico, Venezuela in 2011, etc.) causes severe inflation. I don't agree with the money dump, but the Fed does this to maintain the strength and demand for the USD overseas.
Responsible fiscal and monetary policy is vital, but it's not the deficit that's the problem - it's how the money is spent. The money should be thought of as an investment when it's invested in the public, but when is the last time the US invested in Americans? It makes me beyond angry. The Fed and USD wouldn't be as strong as they are if it weren't for the unpaid and paid activities of the collective American workforce. Everyone is getting ripped off by the system, but it's confusing, so we keep blaming each other for losing our wealth.
It doesn't matter if it's socialism, communism, or capitalism if we aren't the center of the economy, and right now, we're not. Like the question you first asked me, what do I do for Australia? Everything. Even just watching friends' kids for free is providing value for the country. So, my question is what is Australia doing for me?
This response is quite long but I love economics. If you'd like to email to discuss more, please do cjanemone@gmail.com
And no, crypto isn't the answer. It's a Ponzi scheme. The Central Banks have gone rogue - it's kind of a problem, but they don't want to devalue the dollar. That would kill the wealth they're trying to maintain. They know exactly what they're doing. xo
