A speech like yours always leads to a more extensive answer, why everything on the planet is the way it is (in general, I wrote about it many times already), and not otherwise:
When people have too much easy and extra money, they spend it much more imprudently than those that get real productive (the key here is within the overall usefulness for the progress of civilization) labor and where their value is fully realized. This is a global problem, inevitably leading to the collapse of modern civilization - on the planet, especially in developed countries, there are a lot of parasitic strata of the population. Moreover, their number only grows with time relative to the productive layer, especially when the entire country lives in debt. It is they who form the artificial demand for junk (from the point of view of balance) and "premium" goods, with prices inflated several times relative to their real cost of production and development. This happens for a while, until such a system collapses due to the accumulated overhang of debt.
When money is thrown from a helicopter to the population, debts taken voluntarily are forgiven (as, for example, to students and their brainless sponsoring parents for an education that no one needs in practice - to calm social anger or just get an advantage with dirty methods in the next "elections") and pay salaries that clearly do not correspond to their real productivity in the global labor assessment. Especially in "developed" countries. When money is simply "printed" (when banks have holes and need to be plugged), but only the elite, who are closer to the "printing press", receive them.
Debts cannot (as in the United States and most Western countries with a sharply negative budget-payment balance and foreign trade) accumulate indefinitely. As a result, the result of such a long-term policy will always be hyperinflation (which they have already received in the form of the first portion of a cold, sobering soul, but still with a fairly high temperature of "water"), followed by either an inevitable internal civil war or external aggression (beloved occupation of populist politicians and the brainless segments of the population who elect them) to channel the anger of deceived savers (for the most part, those who actually work productively in the framework of the global efficiency assessment, and not those who got money through parasitism or unproductive labor) and ruined segments of the population, in order for the kleptocratic elite (and the layer of lumpen that is beneficial to it, most often with leftist views, as the history of mankind shows, which it feeds) to remain in their own way and they are at the pinnacle of power.
Everyone wants to jump up at the expense of others, without even thinking about the justice of their aspirations and the general balance on the planet. Which ultimately leads to conflicts with those who rightly believe that they are being robbed and deceived by forcing them to make a deal by force.
Every time when inveterate populists rule, corrupt officials, thieves or outright bandits who do not care about designing a truly balanced society, everything comes to collapse. Then, the phase of "cleansing from parasites" always follows, and then everything goes to a new circle of gradual degradation of societies, when the sobering effect disappears with the emergence of new, more brainless generations that have forgotten the lessons of history.
As long as the planet can still provide the population with sufficient resources in their opinion.
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