by Timo » Wed 03 Aug 2011, 17:19:49
This is my take on things, not that anyone is particularly interested. Clearly, we are in the midst of a global economic restructuring based entirely on the failed premise that debt equals prosperity and can continue forever. Prosperity has been contorted into a default right by most of the planet, hence we have all of the unsustainable social safety net programs like social security, Medicare, food stamps, and so on. The US is not the only country with these types of programs, btw. These programs were created to fill a specific need at a specific time in each nation's history. Those needs still exist for a great number of people, but their existence has created a dependency on them instead of being the safety net that they were inteded to be. For a great number of people, these programs are necessary to support their lives and families. But, as we have all witnessed over the past month of debt default debate, there is not sustainability mechanism built into these programs that allow them to continue in the manner in which we have all become accustomed and have come to expect. Something has to change. This is the point where the collapse v. decline argument comes in. We have a choice in which path we take. On one side of the debate, to be more specific, the Tea Partiers want to abolish our entire republic system of government by eliminating the ability of every future generation to decide for themselves what their needs and problems are, and how best to address them. They want to create their version of the future right now where no one has anything that they depend on, all in an attempt to claim that they balanced the budget. That method is to not only allow collapse, but to create it, and in fact, insist on it. The consequences of this action would/will be catastrophic to both the survival of this country as a republic, and to tens of millions of its citizens. The other path is to minimize the transition into our collective new reality by recognizing that the current system is broken (done), agreeing on a method of getting from here to there (in process), and a sensible timeframe to allow a minimally disruptive transition (tbd). This will not be easy and there will be unprecedented political turmoil as we head down this road, but this road is reality, and there are no other roads to take. The s*it has hit the fan and we all have to pay the piper. Now, for me personally, i'm already near the bottom of the financial totem pole, so in that sense, i don't stand to lose a heck of a lot of money. I reckon a lot of you out there are in the same position. Those who stand to lose a lot are those who currently have a lot. The tired old cliche, "He who dies with the most toys wins" will become "He who has the most toys will fall the farthest." I've been crawling through this life for 45 years, and if i fall, it's just a matter of inches. Those who own and live in skyscrapers will fall along, long ways. The new paradigm of "sustainability" is even on its way out because there quickly won't be anything left to sustain. The new paradigm will become "resiliency." Those wo can adapt the fastest to the new reality will win by simply surviving. Those who can't adapt, or won't, they will collapse.