It does not matter how we call monetarism, capitalism or communism, both need artificial demand and irrational exuberance and greed to sustain their shenanigans. Capitalism and communism are 2 sides of the same coin. Both lead to inflation.
Maintaining economic growth is a priority for the Chinese government . Sure, construction industry employs many workers, but what happens beyond that?
The average Chinese annual wage is $6,000 and the cheapest 1 bedroom unit costs $70-100,000 . Of course the Chinese gov expects millions of people from the country side to move to the city but that’s irrational optimism because such people just cannot afford it. Those who dared take the risk are now stuck, living in cages. Hong Kong looks like a template for what will happen after the bust.
Humans In Cages: Hong Kong’s Shoebox Housing | March 09, 2015
There are about 200,000 people living in Hong Kong in what the government calls “inadequate housing,” including cubicle apartments and cage homes — wire mesh hutches stacked on top of each other.https://www.rferl.org/a/china-hong-kong-housing/26872808.html
The bursting of the bubble will impoverish a lot of people, and not just in China as the implosion will ripple through the entire global economy. The West too has its own nasty housing bubble to deal with, and many will eventually find out that their mortgages are underwater.
So what does it mean? That Humanity is a body and if we do not address a injured of infected limp, it eventually infects or impairs the whole body.
The price to sustain the unsustainable
Monetarism will always sell dreams that cannot be to the “have nots” and concentrate wealth in the hands of a few. With the 1% owning 83% of the U.S stocks, the 1% already owns most digital currencies, regardless of what happens to them. Eventually, and it is very likely, the IMF will impose its own digital money.
Many still believe that industrialization has alleviated populations from poverty, but it was all about ” an endless credit infusion” and a lot of speculation, we literally spent ourselves into oblivion.
Competition is just not preventable and never will be. Hence embracing a “non competitive premise” is best for Humanity, and this transition can only be successful if a majority accepts that the real issue is the Ego (and Its fear of death) that makes us want to possess life and things.
The time for a global reckoning is getting closer along with the inevitable choice to let go a system that cannot be rescued. Monetarism will never address greed as it causes it in the first place.
60% Of World Population Living In Poverty But 83% Of All U.S Stocks Owned By 1%
Alan Greenspan: The Bull Market Is Over… Run For Cover! https://earthcustodians.net/blog/2018/12/24/alan-greenspan-the-bull-market-is-over-run-for-cover/
China’s Empty Cities House 64 Million Empty Apartments