by Nathan McDonald
The situation across the globe is deteriorating rapidly, and I am not just talking about the continued spread of COVID-19 but the ramifications that come with it, ones that will likely have dire consequences in the coming months to years.
The financial collapse we are now living through is the most serious of these ramifications. It has gutted many businesses, and the following weeks will bring the highest level of unemployment the Western world has ever seen.
This means that big government is being looked to more and more to help sustain the system in the short term. By printing copious amounts of fiat money, they hope to plug as many holes as possible—while new leaks spring up all around them.
I don’t envy this position, and unfortunately they are stuck between a rock and a hard place.