[CWuestefeld]

What they haven't recognized is that there is a much more serious and devastating long-term feedback loop, that will not just remove the politicians but thrash the whole country.

How do you expect that this will cause the politicians to be removed? My observation has been that, thanks to poor-to-nonexistent economics education, politicians are able to turn this backwards, getting people fired up for mercantalist, protectionist policies. Those intuitively sound good, although completely discredit by economists, and wind up worsening the problem -- all with the blessing of the people.