Deferred payments and life in loans - Economic history...

Deferred payments and life in loans

When diagnosing a disease, one should look for its source. In our case, it is obvious - the US economy, which is sick for a long time, and chronically. Moreover, it unfed a malignant tumor in the world economy almost the entire second half of the XX century.

A small historical digression from the standpoint of economic crises.

The First World War, engendered by the crisis clash of the economic interests of the European powers, culminated in their common loss from an economic point of view and the transformation of the United States from the debtor of Europe into its creditor.

Next - the global economic crisis of 1929-1933, finally get out of which the US helped only World War II.

Keynes recipes, Roosevelt's plan, of course, worked to some extent, but the main thing is still war! Suffice it to say that in the 1940s. The standard of living in the states was higher than in the 1930s. This war has finally turned the main players of the European economy into debtors of the United States, and it is easy for the debtor to impose any conditions, including political ones. Where politics, there is economics. The US dollar took away the function of world money from gold, however, in stages.

When de Gaulle (the French president), who was leading personally personally in Western Europe, but at least relatively independent of the states, brought a liner full of paper dollars to the American harbor and politely asked them to exchange them for gold, the US rulers were struck by such a impudence and thoughtful. And what if it goes into practice?

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The US dollar stopped exchanging for gold, which turned it into practice from a bank note to a treasury ticket. Nominally having gold content of money, they became guaranteed only by national wealth of states.

Given that the dollar is at the heart of international payments, the world economy has become dependent on the health of the US economy, not indirectly, but directly.

De facto, this situation received a theoretical justification, which allowed once again to spit in the direction of K. Marx.

Meanwhile, when issuing treasury notes, the state inevitably finds itself tempted to increase its volumes. It does not necessarily do it in kind. Where it is more elegant to grow the amount of state obligations - debts, external (it's better!) And internal. Can not be secured.

Now the United States is the first debtor on Earth. According to the calculations of its own specialists, the national debt of the USA (taking into account the debts of the pension fund, the indebtedness on internal turnover, etc.) exceeds $ 50 trillion. This tumor is malignant.

Where did it come from?

First, the war. If before the United States participated in world wars virtually (the first) or very limited (the second), then since the 1940s. the war went seriously. It does not matter that it was cold (with hot spots - Vietnam, Korea, etc.), no one wins economically in the war.

The last battle in this war took place on the field of the world raw material and energy crisis of the 1970s. was (we will return to this question) is lost to the USSR. We were charged, we had to pay.

The US payment was delayed, but the time has come.

Secondly, the population of the states consumes almost twice as much as they can afford by the results of their work. This also goes for the growth of public debt, which, we see, will have to be paid to the world community.

Third, the chronic flaws of the US economic system - the absolutization of credit as the driving force of economic development.

Credit, which is not only the basis of all economic ties, but also ideologically approved as a way of life in the states, a thing in itself is good and necessary. But when the total volume of loans exceeds the actual borrowing capacity by one order, and the declared insurance system is in fact absent (where does it come from, if it is built on a loan?), Sooner or later the house of cards collapses.

Attempts to improve the financial system of the United States through state injections, undertaken at the expense of another virtual issue of treasury notes (pay again to the world community), resemble "treatment" covered with plasters face plaster cosmetics.

The financial block of the state economy is inadequate to the production block and is torn away organically.

All this is very similar to the financial system of John Law, built by him during the reign of the Duke of Orleans in France. Its result was a great failure, but then it affected only one nation.

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