Great post and it applies just as much today. Politician are driven by the short term interests of the election cycle in many areas of life and this is just one. In order to maximise their chances of staying in a job they are happy to pass the buck on to someone else further down the line. It will keep continuing and we will keep having these booms followed by the bust of recession and more borrowing, QE and the like to restart the cycle.

That's one of the many reasons that a lot of us get into crypto like Bitcoin. The amount of Bitcoins is fixed (once they are all mined) and no government can decide to print more.

I think one day when people realise the folly of fiat money and how governments manipulate it - the only true reserve currency will be Bitcoin (or something like it).

This is because it will be the only currency that everyone can trust and politicians can't play these kind of shenanigans with.