Lebanon’s timely dug crisis hole and the final fall into it

The financial collapse of Lebanon happened a little more than 2 years ago but was the effect of a previously practiced Ponzi scheme. For three decades, the Lebanese financial system has been using money from debts to pay for everything. The system works until it doesn’t. When the government runs out of money and cannot take anymore debts, people are left to deal with it themselves. A simple mismanagement that costs not only money but also the lives of innocent people. (Blair, 2022)
Lebanon has been hit by a series of interconnected crises for over two years, first with an economic and financial crisis, then COVID-19, and finally the explosion at the Port of Beirut on August 4, 2020.…