Fed balance sheet tops $8T for first time -data

The key distinction isn't so much between "workers" and "capitalists" as between "voters for whom cashflow is critical" and "voters for whom asset income and fixed income is critical" (i.e. pensioners! A huge fraction of the voters!) Within the "cashflow" category you also have the question of whether you've paid off enough mortgage to regard house price inflation as good rather than bad, or whether you're staring up at the wall of deposit required to enter the housing market.

But my point is that those market factors easily dominate balance of supply and demand, such that the only thing that matters is the efficiency of the economy. So even if taxes could balance the budget, the reduction in investment would kill more demand than supply. Therefore, if correct, the only thing that matters is efficient spending.

Quantitative easing, stimulus, bail outs, financial support, housing emergency support, vaccine and what not funding to expedite solutions. Nearly all of these are funded by the tax payer. Who for the most part hasn't yet figured that he will be paying for it for the many years to come, with little chance that the tax rates will be readjusted back to its normal level, which was already commensurate. Give me more support please, since I think money just comes from the sky.

There is going to be a point where even the last idiot will stop paying, since he won't be able to pay anyway.

When I dig into how our governments, at least in the west, are handing the economical chaos we are in now, and their ability to ignore and conceal reality, I figure there is nothing that can prevent an imminent total downfall of our current system that relies on heavy fundings of countless institutions.

It may happen gently if the authorities apply common sense. But that's not what we have elected up there. And individuals seem to be very biased, triggering their self survival pathways to get the best of a situation, at the expenses of god knows how many.

I foresee a questioning of our tax rates very soon. People won't understand why they are paying so much on one side, and realise they can't pay on the other.

Whatever is going to happen is going to happen soon. Such is the nature of exponential growth. Everything seems to happen all of a sudden at the end, despite the rate of growth potentially remaining constant. Then some period of radical adjustment, as all exponential growth of any system in the real world is unsustainable and must end.

> typically have only few thousand dollars in cash deposit savings see their money being wipes out by inflation

10% inflation on $1k savings vs 10% inflation on a $20k salary: you do the maths?

But… the fed is a business. They will operate to expand their domain to the maximum extent possible, regardless of internal opinion. Same with government.

If this is the case, it seems to me, that when, politicians say that there is not enough money, or the public debt is too high, they are basically lying to the population. That's the kind of lying that we don't hear when is time to spend in a war, or cut taxes for the rich, for instance.

We agree that many politicians are in the pockets of wealthy fat cats.

We could also tax the rich to fund the pensions and healthcare of the masses. The amount of wealth the mega-rich have gained over the last year alone is absurd.