Few people in the world are familiar with the most important war over ideology ever waged.
Some may say the American-Soviet Cold War was the tops, yet this had nothing on what we are about to share with you. Financial Year
On one side, you had Friedrich Hayek and the Austrian School of Economics, while the other was anchored by John Maynard Keynes. Budget Deficit
Since the Second World War, the Americans, Japanese, British and Europeans have spent way more money than they owned. But that was OK because the money they borrowed wouldn’t have to be repaid until some far away day in the future.
Unfortunately, the future has arrived and the next generations have all been plunged into a deathly debt spiral.
It is no coincidence that the Americans, Japanese, British and Europeans have all set interest rates as close to zero per cent as possible and are all printing money. They all ignored Hayek and instead followed the economic principles of Keynes.
Today, the entire global economic and financial system is rooted in unwavering support for Keynes and his beliefs in deficit spending and debt-fueled growth.
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