It doesn’t happen often, but this time have to give cudos to “a classic” (very conservative, not very revolutionary thinking) economist Hans Werner von Sinn:
- “Take care of yourselves. Don’t believe that the state can do it. The state will be hopelessly overwhelmed with the socio-political tasks. Social security systems are not in a position to continue the development of living standards as we are used to. The sooner everyone realizes this, the more they will take precautions for the later years of life.”
- The economics professor advises young people to not to wait too long for thinking about having kids and to concentrate on traditional family images.
- “Family cohesion (families working WITH instead of AGAINST each other) will become increasingly important in view of the difficulties of the state,” Sinn explained.
- “Some say that the ECB did not cause the price increases, so it does not have to do anything about it. One cannot argue more wrongly, because the mandate does not focus on the causes of inflation, but on the possibilities of combating it,” the ex-ifo boss continued
…. but not to endanger the 0% financed real estate bubble, where banks sell thousands of vacant buildings in Munich in a circle, IMF-ECB-La Guarde (“The Guardian” (of the banks)) does – nothing.
- “And they consist of interest rate hikes.” In addition, the monetary authority is not entirely innocent of the high inflation rate. With its bond-buying program, the ECB is partly responsible for rising prices, as government securities were purchased with fresh central bank money. Low interest rates have thus encouraged indebtedness, according to Sinn.
- The fact that the ECB has not yet heralded the interest rate turnaround, even though the US Federal Reserve raised the key interest rate by 0.25 percentage points in March, also creates an imbalance in international trade. As a result of the ECB’s inaction, the euro has been significantly devalued, which automatically leads to higher import prices – including in the energy sector.
auto translated from: https://www.finanzen.net/nachricht/aktien/pessimistischer-ausblick-ex-ifo-leiter-hans-werner-sinn-prognostiziert-34-laengere-periode-34-wirtschaftlicher-unsicherheit-ezb-in-der-kritik-11282820
family cohesion: it is (sometimes) hard
… unfortunately, nature decided, out of biodiversity reasons (make every individual an individual = very different from his brothers & sisters, in order to ensure that “at least one” will survive, fast changing circumstances (economic crisis, war, famine, climate change, meteoroids… u name it)
So sisters and brothers are by the design of nature – very different – thus having (sometimes) hard times – understanding each other – getting along with each other.
But IF they manage to accept each other – (and if it’s only by living next door, but never speaking to each other X-D) – things might work out.
Capitalism actually increased that acceptance problem, with some 1 to 10% doing very well (often) at the expense of the 90% (who pay their taxes) – WHILE looking down on the 90% as “bummers”.
the downfall of the middle class, is the downfall of families
or in other worlds: who want’s to put kid’s in a fu**ed up (non sustainable = it is going to end) world? (nobody)
Question: Is it any wonder – that in a system – that was not built for man, but for money “around money”, man will soon no longer appear?
I am not surprised (unfortunately).
So when “the system” – betrayed the middle class – because of lobbyism by the money of the top 10% (that sometimes “think” they are the “middle class”) – it “programmed” society – for the downfall of the middle-class (who to steal from? nothing to steal from the poor?) and the downfall of families.
It’s as simple as that.
And turning back the time – won’t help.
It won’t help driving old gas guzzling cars that need a portion of lead in the gasoline to actually function correctly.
There is only one way: forward. Into a sustainable economy that serves all. The sooner the super-rich realize this – the better. (but they will want to preserve the status quo until the very end (death)… so it’s a uphill battle for everyone else)
- crisis as chance for transformation:
- central banks have to be put under democratic rule – this way or another – it is inacceptable – that the central banks serve only the private banks.
- globalization is dead – good – so we can start produce locally and FRESH again 🙂 = more jobs, but who is going to finance those jobs? surely not the existing broken system of corrupt banks.