I recently read one of those news items that if it were a third world country you would say, 'ok, it's a Banana Republic', but when you see that the country referred to in the article is none other than the world's leading economy, the United States of America, you begin to understand the disastrous influence of the fiat model on what was once the most important society in the world. The note itself talked about the fact that despite the fact that McDonalds offers a payment of $50 for requesting a job interview, so far no one has wanted to approach these restaurants to exercise that opportunity to charge the amount offered just for talking about your professional experience with a potential boss.
Of course, in the face of such a cascade of free money falling from the sky, very few people in that country consider working for a living as a good option. Recently, official data reveal with blunt truth the terrible reality of employment in the USA: only 12 million new jobs were created in April when at least 21 million more were expected to be generated. On the other hand, there are any number of job offers in that country, but the only ones willing to accept these job opportunities are behind the southern fence waiting for an oversight of the 'migra' to 'make America great again'.
Considering the fact that if a family of five (I don't know if the children also receive this benefit from the government) receives an average monthly income of US$ 5k just for existing, it is logical that no one considers it a viable option to go out to the streets to look for a job, especially among the part of the population over 18 years old and with the knowledge and physical capabilities to be productive. Of course, this situation is deeply affecting the productive sector of the country, inasmuch as in spite of the COVID-19 pandemic crisis (I would say rather as a consequence of it) the employment sector was very compromised, reason (or excuse?) why the current administration in Washington opted to generate this incentive program supported by a brutal issuance of money (and debt) sponsored by the Federal Reserve (FED) and a program of treasury bonds that are worth less than toilet paper.
Precisely the FED has no intention of reducing in any way this endless Quantitative Easing (Qe) to which it is subjecting the US population to a state of fiduciary parasitism (if the expression fits) that one would expect from a communist state. Obviously this constant distribution of money has direct repercussions on the high cost of living, that is to say, inflation, something that we in Latin America know very well what it is all about and how perverse it is to be subjected to its evil tentacles.
When the productive part of the economy is left aside, there is the risk of depending on other countries (especially China) to provide those articles or goods that Americans consume, while on the other hand the local productive sector only has the option of locating jobs outside the borders because there is no motivation for citizens to go to the workplace (why work? I have a check of US$ 1000 guaranteed every month, not for others to do it).
The problem of this universal allowance or incentives is that it promotes the tremendous devaluation of the dollar, therefore it will cease to be a valuable currency since it is printed so much and with nothing to back it up its power in the world is very weakened, of course, also its importance within the population. Perhaps the majority of the US population considers this a policy that helps them, but sooner or later they will realize that only the real and productive economy is what gets people through any crisis.
Fortunately most of us bet our trust on cryptocurrencies, especially Bitcoin as the main (and true) asset of value on the planet, in such a way that the collapse of the dollar only makes us think that Satoshi's work will eventually assume the place that the green currency is losing thanks to the true effect of the fiat system.
