The world economy is in dire need of a reset. Age old institutions, and status quos have been propped up by unnecessary intervention and bailouts for too long. The current corporatocracy has left main street for dead, and has big businesses propped up on false promises, and twigs for support. The question here is; When does it end? And how do we start fresh? The answer? We have to let what is dead be dead, and break the fragile supports in place. We have begun to start fresh. DeFi has taken traditional finance outback and the beating has just begun. Watch our for an recession incoming to combat this disruptive technology.
A Recession Incoming
The current system has been in meltdown for decades and our government is currently getting ready to pass yet another “recovery bill.” The COVID eviction moratorium is still in place, and when it ends more than 2 million people will be affected. Inflation is at a 10+ year high, and the Fed seems un-confident of this trend cooling off anytime soon. Since the start of the pandemic government has pushed through almost $4.6 trillion in spending. This has led to over 40% of all U.S dollars being printed in the last 12 months in response to COVID-19. This endless money printing has destroyed the U.S economy permanently. It is clear this has created a scenario where a recession is incoming.
The prop ups through the Corona virus have been the scariest we have seen, since the government bailed out the banks back in 2008. Small businesses are being pushed out of existence because of the government response. The current regulations are being introduced, and pushed in an environment only the big business can keep up with. This dives more into how a hyper active regulatory environment discourages entrepreneurs. All of this has to end. It has to, right? Yes! It is ending today, right now ! Freer markets will always lead to the market winning, and that’s what we are on the cusp of today.
The Answer To An Incoming Recession
The answer is right in front of us; Blockchain, and Decentralized Finance. These technologies have opened the floodgates of innovation and are forcing the current economy into modernity. Day by day the supports are being kicked out from under the status quo, and a new system is forming. These new financial technologies are giving long overdue transparency to the market. DeFi is allowing citizens to take back economic control, and making companies evolve.
A Fresh Start
Our fresh start has begun. Cryptocurrencies are transforming how businesses conduct themselves, and it has given ordinary people back our voice. Are we in time to stop a recession from happening? Probably not.. At least for the U.S. I say that because the U.S has propped up the current system of banking for over 20 years, and we have essentially stopped enforcing our antitrust laws. The last time a company was tried for some type of antitrust violation was Microsoft in the year 2000. Since the year 2000 massive tech giants Facebook, and Google have claimed roughly of all internet traffic utilizing a platform one of the companies owns.
The evolution of our economy is exciting to experience, and it will be exciting to see where we go from here. I have confidence that we will adapt as always, and overcome the hurdles that lie before us. I am curious to see how fiat currency fades away, and how main street gets back their slice of the pie. Remember to support small and local businesses, and thanks for reading!
Written By Caleb Hogan from ofthefreemarket.com on August 8, 2021
