What is the inherent nature of capitalism?
“At the end of the day, capitalism inherently experiences boom and bust cycles—it's simply the nature of the system, oscillating between exuberance and downturns. There's always a crucial policy dynamic at play: during prosperous times, how do we moderate growth? And in downturns, how should we invest to foster recovery? In America, there’s substantial stimulus spending facilitated by deficit spending, leveraging the benefits of being a reserve currency. For example, during the pandemic, Donald Trump issued stimulus checks with messages like, "Hey, this is my money to you; go ahead and spend it." This initiative was succeeded by Biden’s Inflation Reduction Act, a trillion-dollar stimulus spread over an extended period, which indeed contributed to inflation. This scenario underscores the profound impact of stimulus spending in the economy.” - Jeremy Au, Host of BRAVE Southeast Asia Tech Podcast
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