by Charles Hugh Smith
Of Two Minds
Sorry Fed, it’s too late. The dominoes are already toppling, and every point of failure is being exploited by the catalyzing effects of Covid.
America’s many points of failure—leverage points where a break brings down the entire system–are falling like dominoes, a process catalyzed by Covid. These systemic points of failure have been masked for the past 20 years by the widespread distribution of trillions of dollars, either printed or borrowed.
There’s no point of failure that can’t be glued together or covered up a bit longer with fountains of cash. That’s the American way of solving problems: just throw more money at it.
Unfortunately for America, substituting borrowed trillions for real problem-solving generates its own set of problems, problems that increase the system’s vulnerability to collapse. Healthcare / sickcare is a leading example of this: as the corruption, pay-to-play and profiteering deepened, the federal government’s endless borrowed trillions boosted healthcare / sickcare from 5% of the nation’s economy to roughly 20% today.