TD₿: How Easy Money Is Rotting America from the Inside-Out by David Veksler
TL;DR Easy money policies from governments and central banks have real-world destructive effects such as endless wars and rotting infrastructure.
Hey Bitcoiners,
I’ll never forget hearing somewhere that smartphones exist to distract people from the fact that their public transportation hasn’t been improved in +50 years.
Most of America’s existing infrastructure base, including roads, bridges, dams, plumbing, electrical grids, and public transportation, was built 50-90 years ago, and it shows.
In 2021, the American Society of Civil Engineers gave the U.S. a C-minus for the state of infrastructure across the country. The report warned that 43% of U.S. roads and highways were in "poor or mediocre" condition and that more than 46,000 of the nation's bridges were in bad shape. The levees and stormwater systems earned a D grade, and public transit systems earned a D-minus.
Despite being one of the most powerful and wealthy superpowers in the world, we have allowed the infrastructure of our country to crumble and degrade.
Our roads are filled with potholes, our bridges are caked with rust, and in some parts of the US, citizens don’t even have clean drinking water due to old piping whose service is long overdue.
But what are the causes of this neglect when it comes to infrastructure?
I would argue that at least a part of the blame can be placed on the easy money policies of governments and central banks over the past century.
David Veksler wrote this article that dives into some of the adverse effects that easy money has on the real world including its contribution to the decay of our infrastructure (02/08/2018).
By returning to a sound money like Bitcoin, we can focus our attention on building long-term projects instead of trying to maintain old infrastructure that no longer serves our needs.
Tick tock next block,
Cory Klippsten
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