All Over Except For The Circle Jerk On Wall Street
Surviving Financial Collapse and the Reversion to the Local
"Read the daily news, even in a relatively mainstream newspaper, and you cannot fail to notice that an unprecedented event is unfolding in front of our very eyes; the simultaneous collapse of two of the World's largest economies: the US and European Union.
Both appear to be teetering at the edge of a financial precipice and the great politico-bureaucratic machines that run the show – on both sides of the Atlantic – seem incapable of agreeing what economic medicine might keep this beast on the rails.
They, and we, are now learning that in a finite world no resource is infinite, least of all institutionalized financial wealth whose very existence is dependent upon interest payments made on capital lent to those who cannot sustain the levels of repayments demanded of them. In a 'debt based' economy (which ours is) all participants will ultimately end up losers.
We cannot know the exact timing surrounding the unhinging of a large sector of the global market place, but that some form of large scale collapse is imminent, there can be little doubt.
With this collapse will also ultimately go the entire foundation of modern day capitalism, and particularly the 'perpetual growth' based economic formulae that have driven this planet to the edge of ecocide and the mad growth machine perilously close to its own ultimate demise.
The vast debt-based financial manipulations of the past decade already signaled that a global crisis was in the making. And attempts to solve this crisis by applying an ever tighter squeeze on the already minimal assets of the working man and woman has now reached a 'back against the wall' point of no return, provoking the first waves of citizen based 'non compliance' uprisings. We are likely to see more of these as the elite bankers and corporate despots who hold the reins of power, try to hang onto this power by exerting their repressive authority on an increasingly disenchanted populous.
The entire edifice which we were led to believe constituted the secure foundation of a modern civilization, is now falling on its knees and the centuries old profligate 'top down' theft of both people and the planet is now rebounding on its perpetrators, dragging all and sundry in its turbulent wake. As a result, we are, in the next half decade, going to pass through the vortex of a huge change to our customary ways of life. A change for the better, if you don't like the 'take-all' consumerist package at the helm of modern neo-liberal capitalism. A change for the worse if you do.
Desperate rescue attempts will of course take place in which billions of dollars, Euros, pounds, yen and roubles will be thrown at the sinking banks, financial institutions and corporate marketing machines, in a vain attempt to resuscitate - one more time - the dying machine. But it won't rise again because there is no crane big enough to lift it out of the grave it has dug for itself."
"Read the daily news, even in a relatively mainstream newspaper, and you cannot fail to notice that an unprecedented event is unfolding in front of our very eyes; the simultaneous collapse of two of the World's largest economies: the US and European Union.
Both appear to be teetering at the edge of a financial precipice and the great politico-bureaucratic machines that run the show – on both sides of the Atlantic – seem incapable of agreeing what economic medicine might keep this beast on the rails.
They, and we, are now learning that in a finite world no resource is infinite, least of all institutionalized financial wealth whose very existence is dependent upon interest payments made on capital lent to those who cannot sustain the levels of repayments demanded of them. In a 'debt based' economy (which ours is) all participants will ultimately end up losers.
We cannot know the exact timing surrounding the unhinging of a large sector of the global market place, but that some form of large scale collapse is imminent, there can be little doubt.
With this collapse will also ultimately go the entire foundation of modern day capitalism, and particularly the 'perpetual growth' based economic formulae that have driven this planet to the edge of ecocide and the mad growth machine perilously close to its own ultimate demise.
The vast debt-based financial manipulations of the past decade already signaled that a global crisis was in the making. And attempts to solve this crisis by applying an ever tighter squeeze on the already minimal assets of the working man and woman has now reached a 'back against the wall' point of no return, provoking the first waves of citizen based 'non compliance' uprisings. We are likely to see more of these as the elite bankers and corporate despots who hold the reins of power, try to hang onto this power by exerting their repressive authority on an increasingly disenchanted populous.
The entire edifice which we were led to believe constituted the secure foundation of a modern civilization, is now falling on its knees and the centuries old profligate 'top down' theft of both people and the planet is now rebounding on its perpetrators, dragging all and sundry in its turbulent wake. As a result, we are, in the next half decade, going to pass through the vortex of a huge change to our customary ways of life. A change for the better, if you don't like the 'take-all' consumerist package at the helm of modern neo-liberal capitalism. A change for the worse if you do.
Desperate rescue attempts will of course take place in which billions of dollars, Euros, pounds, yen and roubles will be thrown at the sinking banks, financial institutions and corporate marketing machines, in a vain attempt to resuscitate - one more time - the dying machine. But it won't rise again because there is no crane big enough to lift it out of the grave it has dug for itself."
posted by nolocontendere at 4:36 PM
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