You may think the prospect is good news.
However, the flip side is that this means secular stagnation and perennial crisis for wage earners and the middle class. There is a slow-motion eternal crisis that leaves the average citizen wondering why they cannot make ends meet, while governments boast about their economic stability.
A crisis is only the manifestation of a previous excess. When governments prioritise prudent investments, healthy public accounts, and attractive taxes, crises end quickly, and the recovery is stronger. However, when governments claim to be the solution and mask economic imbalances with increased spending, debt, and taxes, they merely create a significant transfer of wealth from the private sector to themselves, resulting in persistent inflation, higher taxes, weaker productive growth, and lower real wages that burden taxpayers.
