“Humanity,” psychologists teach, “is hardwired to crave money.”
Cravings, as we all know, can lead to addictions. Money, it seems, is an opiate as addictive as any other — probably even more so — and as dangerous in its consequences. The craving becomes an irresistible force that demands ever-increasing dosage to satisfy.
“More,” demands the user, give me more — and more — and more — ad infinitum.
Fed Chairman Benjamin Bernanke tells us that increasing the dosage will, like transfusions in medicine, restore health to the user.
That solution, however, is not borne out by history — or medicine. What economic opiates fertilize is la-la-land delirium. It does not and cannot fall on fertile ground since none is available.
What the increase in Bernake’s ersatz money will lead to is a seismic explosion in inflation, which, if history be our textbook, can eventuate in some hero on horseback riding to the rescue, a la Germany after 1923.
When that happens, and it will, keep in mind that it didn’t need to happen. It was a choice made by a society of addicts whose thirst led them to destruction.
Victor Lister
Athens
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