The Progressive Era: Rewarding bad behavior and bad investments with near-zero percent interest rates and corporate bailouts, The Obama Years are back – October 22, 2021,

Hope and change sounded good until Barack Obama bailed out Wall Street. The economic collapse actually happened because of George Bush and Bill Clinton, but what Barack Obama did, should never happen, he bailed out Wall Street. Former Chair of the Federal Reserve of the United States Ben Bernanke of course facilitated this, but Barack Obama opened the flood gates of corruption once he used the power of the U.S Federal Government to reward bad behavior.

This in case you’re wondering is what’s fueling the modern progressive era. On paper, the 45th President Donald Trump governed a lot like a Democrat, which is why it’s understandable why people would call Trump a Fascist. Although Left-Wingers have been successful at labeling Fascism which is “National Socialism” a far-Right ideology, it’s actually derived from the Left.

Hitler was a Socialist, but his socialism similar to Karl Marx’s socialism was too extreme for the Democratic socialists of that era and he was thrown out of the Socialist Party. But Right-Wingers want SMALL GOVERNMENT, in fact, the far-right prefer NO GOVERNMENT at all. Fascists on the other hand want a big government, which is an ideology shared by the Progressives.

Now in the real world as we learned from the Roman empire a big government hinders economic growth, but the creators of regulations, hungry for power, imagine that the laws they’re passing are merely created to affect a few people, when in fact their Progressive policies, destroy society as a whole. In a market economy, bad behavior results in BANKRUPTCY, Progressive governments want to stop suffering, so they’ll often attempt to prevent bankruptcy from segments of the population they deem as worthy of saving.

Progressive ideology pins central planners as Gods over civilization and these central planners can reward bad behavior…until they can’t. In America, they’re enjoying the spoils of having the world’s reserve currency, but with great power, there is a great responsibility and the Progressives imagine that this privilege for having the world’s reserve currency shouldn’t be wasted, they want to build a modern egalitarian society.

Unfortunately, because egalitarians believe in equality and the current Progressive governments have to answer to special interest groups like Labor Unions and Climate Alarmists, the modern egalitarians instead of pushing for equality, now want equity How are the Progressives getting away with this you ask? Well, the answer is simple, zero percent interest rates, which is enriching special interest groups.

There’s supposed to be a cost of money, furthermore, this concept of a world’s reserve CURRENCY or centralized currency is flawed. Even the Gold Standard wasn’t a world’s reserve currency, it was of course widely preferred, but bad behavior wasn’t rewarded under a Gold Standard, it couldn’t be because PRODUCTIVE resources are scarce.

Progressive ideas have a right to exist, but if they don’t work, they’re supposed to go bankrupt, not so in the modern world, in the modern world bad ideas are being rewarded and compounded, and usually, this ends in the destruction of an economy. If interest rates aren’t normalized things will continue to get worse and worse, so it would be wise to prepare for challenging times ahead.

Interesting times ahead!