Somewhere you've mentioned that the only option for governments is to keep printing money. That seems to be the inescapable conclusion of all this. For example, Australia has decided to turn the tap back on to keep funding Covid-payments after a short, failed attempt to ween itself off the cash splash. Why not? Just print it!

I remember a time long ago (2019) when politico-economics was all about belt-tightening. Voters were exhorted to demand fiscal responsibility 'in these uncertain times'. The goal was always balancing the budget. Politicians would earnestly explain that the national budget is the same as your household one - you can't be continuously spending more than you make. Which is basically the same message i've heard all my life. Printing money was considered madness.

In fact, it probably started in 2008 with the World Economic Crisis - that was the first time i heard of stimulus payments in Aus, though my understanding then was it meant going into temporary debt, then paying it off. Which the govt had announced it would do in the budget speech a month or so before Covid.

But now it's looking like a giant bonfire of money. I don't see any way back.

Money has become this 'fake' meaningless thing.