TLDR: everything you think you know about economics is nonsense.
this is completely irrelevant to society's economic wellbeing.
if you want to increase your (and everybody else's) wellbeing invest your savings in attempts to multiply the productivity of labour.
so consumption is linked to economic wellbeing, but it is not the definition of wellbeing, nor is it the cause: it is the delayed effect.
THIS AND THIS ALONE is the proper measure of 'economic growth': the growth in the stock of productive capital, or, equivalently, society-wide return on reinvested equity.
in other words, it glorifies the aforementioned cocaine binge.
there is an interesting tangent here about what money *is*, which I will leave the reader to explore on their own ...
of course, this is a lie.
the costs of cocaine will go down, and consumption - the bullshit measure of economic wellbeing - will go up.
that might be fine - a little responsible cocaine usage never hurt anybody - but that is not what has happened.
what will happen to consumption numbers, you ask - our bullshit measure of economic wellbeing?
whatever to do to keep up 'growth'?
more fake money.
investment has been so badly misdirected, for so long, that it is not possible to produce enough to keep up the utterly meaningless 'growth' of recent years.
'growth' is down because we have had 10 years of fake rates and fake money moving more and more investment towards cocaine, such that even cocaine can no longer be consumed at the recent rate of redirection.
I honestly have no idea. it's not a question about economics but about people making stupid decisions. I don't know how to reliably answer those.
I'm against this.