Those running the affairs of government are more concerned about retaining power than providing economic stability. There are people who are so polarized on each side of many issues from hyperinflation, global elites, socialists hating the rich, communists viewing capitalism as evil, and politicians blaming tax avoiders. There is so much polarization within society that there cannot be any solution for everyone. This is the exemplified in government. They too only see their point of view and it is simply that they lack 100% control of everything (communism) and this is why it is failing.
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Now we have bank runs in Bulgaria. The entire fabric is coming undone and this is part of the fuel that sends everything into chaos as tensions rise and people blame someone else be it rich, foreigners, bankers, or corporations. This is the time where clear reasonable thinking and solutions become impossible.
The IMF is now urging the ECB to start buying government bonds of the member states. They have no solutions but the same old bad of tricks. We are plagued by lawyer-politicians in the absence of anyone with experience in international money management – the void of experience and statesmanship.
