THE ECONOMY–WE KNEW THAT! : Mike Folkerth – King of Simple (mikefolkerth.com) put forth this gem in his 1/07/09 post entitled, “The Rise and fall Of the Super Rich; I Hope:”
“… The super-rich for the most part have one goal in mind and that is to make money at any cost….As the laws were passed during the Clinton Administration to allow free and unfettered trade with the world, the Middle Class of America were officially handed their walking papers. THERE WAS NEVER A POSSIBILITY THAT GLOBALIZATION WOULD WORK FOR AMERICA’S MIDDLE CLASS.” ( caps substituted for italics by PH)
We knew that!
THE ECONOMY–”THE DEAL”: Of two Minds blog (oftwominds.com), by Charles Hugh Smith on 1/08/09 posted a letter from a frequent contributor to his blog, a Harun I., that speaks to the current and proposed financial “adjustments” to cope with the current “economic downturn” (recession/depression). Here are a couple excerpts we thought you might find interesting so, here’s “The Deal” :
“…that the most technologically advanced country in history could conceive that sending worthless pieces of paper to China so that they could buy worthless Treasuries so that we could continue to purchase “things” that required real human effort and natural resources is either collective insanity, rank stupidity, desperation, or just plain old greed….”
“…The situation is untenable. That an insolvent government (starting from a 53 trillion dollar deficit) and facing global peak resource utilization, will somehow effectively manage to administer to a huge retired population whom have no savings, assets that they will only be able to sell at a loss and pensions denominated in a worthless currency, as a line of thought, is at best imprudent. I take no pleasure in stating, and do so without any hyperbole, that you are about to forget about Katrina.
…This Grand Cycle top is unlike any other faced by mankind. We are at peak everything; peak oil; peak food; peak water; peak industrialism; peak credit; but not peak population. There is and will be no excess capacity for growth. The very mechanisms that have allowed homo sapiens to reach such high levels of population density are at or near exhaustion. …And there is no plan B….What will have to happen is a return to using precious resources not for consumerism with all of its built in waste (planned obsolescence, disposable everything) but for producing absolute necessities. This may sound grim but if you remove the adjective, it simply is.”
Remember, “…And there is no plan B …”
Next week we plan to discuss a “plan B” rationale with the beginnings of some specifics. Until then, keep your eyes on the horizon.
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