October 13, 2024 MacroEcoAnemia
In a system based solely on consumption, banks are simply complicit.
A vicious circle. Westerners have now made consumerism a way of life
For years there has been nothing but talk about the crisis of “traditional” banks.
The problem is not that central banks are acting as “lenders of last resort“.
Nor is it that profits always go to shareholders and management (“privatization of profits”).
While losses go to the public and the community (“socialization of losses”).
A constantly self-perpetuating mechanism.
And which, over time, has created true financial giants.
Huge in size, but feet of clay.
“Too big to fail“.
Unfortunately, the problem goes much deeper.
The West has made consumerism a way of life.
Producing and spending like there is no tomorrow.
In a system based solely on consumption, banks are simply complicit.
Related Posts :
