“There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
What the heck did John Maynard Keynes mean by saying this? Overturning the existing basis of society?! Let’s begin by stating something that is both obvious and unpopular. We are living in days that could be called the end of an epoch. The signs are everywhere, and becoming more blatant.
The Left focuses on wealth inequality, because they see one of the signs. The falling interest rate seemingly benefits those who own assets (it does not actually benefit anyone), particularly those who finance assets with dirt-cheap credit. And it harms wage-earners, by incentivizing businesses to borrow cheap to buy capital goods to replace labor.