It's very easy to understand if you just think about the basics. Put the books and academic theories back on the shelf.
In the USA we want "good" jobs that come with personal fulfillment, agency, mental stimulation... great. We also want free healthcare, free education, free everything. Fine. But at the end of the day our money has to buy things of actual value, even as we provide the aforementioned niceties, such as food, housing, medical equipment, computers, i.e. manufactured products, which can only be made by soul-crushing labor and toil.
There's a difference between productive labor (creating value) and service (moving value around). Our currency loses value because too much of the economy is constituted by unproductive jobs where people just attend to each other instead of creating any value. 1.2 trillion dollars on health care every year. 800 billion dollars on welfare. The wolves are at the doorstep.
In the USA we want "good" jobs that come with personal fulfillment, agency, mental stimulation... great. We also want free healthcare, free education, free everything. Fine. But at the end of the day our money has to buy things of actual value, even as we provide the aforementioned niceties, such as food, housing, medical equipment, computers, i.e. manufactured products, which can only be made by soul-crushing labor and toil.
There's a difference between productive labor (creating value) and service (moving value around). Our currency loses value because too much of the economy is constituted by unproductive jobs where people just attend to each other instead of creating any value. 1.2 trillion dollars on health care every year. 800 billion dollars on welfare. The wolves are at the doorstep.