An interview with Mark Thornton of the Mises Institute, in which the scholar discusses the Austrian Business Cycle, the Skyscraper Curse, and how Federal Reserve policy enables out of control government spending to demonstrates the former in the form of the latter. Debt is not wealth, and a government cannot spend, through increasing debt, an economy into prosperity. But bad monetary policy can debase the very commodity that policy intends to prop up; the US dollar.
Unfortunately, good intentions do not guarantee good results. Without natural market corrections, reallocating resources through price signals, entrepreneurs will continue to make bad long-term investments. By allowing interest rates to rise and monetary volume to readjust properly and signal spending reductions and savings increases.
When all major economies are in a race to the bottom to debase their currencies to make exports more competitive. But there is only one end-game; the bottom. Our politicians are playing "chicken" with those in the oligarchy, and we in the proliteriat are the cars.