Martin Armstong brings economics to life with another history lesson in his latest.
The collapse of every empire Greek, Rome, Byzantine, and China at various intervals, has ALWAYS come as a consequence of debt and fiscal mismanagement. Here you can visually see the collapse in gold content of the Byzantine Coinage that led to the Great Monetary Crisis of 1092. Why every government thinks it is exempt from such mismanagement is strange, but this refusal to even look at the past causes it seems a perpetual reoccurring crisis in civilization without exception. We are headed into the another crisis in civilization and there seems to be no means to stop it since politicians refuse to act in any way other than their self-interest of keeping power and controlling the economy.
The Immediate Outlook
The unattainable illusion never changed.