This time the collapse will be global.

Posted by $ Markus_Katabri 3 months ago to Economics
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Even the left gets it on some level.
They fail to see the role their policies play. But, they see the rot.

“ Civilizations die in familiar patterns. They exhaust natural resources. They spawn parasitic elites who plunder and loot the institutions and systems that make a complex society possible. They engage in futile and self-defeating wars. And then the rot sets in. The great urban centers die first, falling into irreversible decay. Central authority unravels. Artistic expression and intellectual inquiry are replaced by a new dark age, the triumph of tawdry spectacle and the celebration of crowd-pleasing imbecility.”

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  • Posted by j_IR1776wg 3 months ago
    Fascinating comments. There is a plaque in the Denver Science Museum that states 99.9% of all species of life that have ever existed on Earth have gone extinct. The hubris of Humans is to think that our species will beat the odds.
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    • Posted by $ 3 months ago
      A lot of them are typical leftist platitudes. Typical Trump bashing blah blah blah. “Climate change will kill us all!” Yes....yes it will.... just like all the carbon spewing SUVs killed off the Wooly Mammoths and Sabretooth Tigers a couple thousand years ago.
      Unless we ADAPT. Which would be a lot easier without a bunch of odious government over regulation.
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      • Posted by j_IR1776wg 3 months ago
        Yes free people freely interacting and innovating will always be more efficient than closed minded bureaucrats. The EPA should never have existed. Now we may never get them off of our backs.
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  • Posted by $ 3 months ago
    I believe the collapse is real. It’s coming. And it has nothing to do with climate. It has everything to do with piss poor monetary policy.
    Right now by the old measure of CPI we are running well above 20% inflation. The highest it’s been since 1974. The traditional way to kill inflation is too induce a recession through interest rate hikes. But here’s the kicker.....we are leveraged out 30 Trillion Dollars. If they bump interest rates to where they historically were under this level of inflation we should be looking at 20% mortgage rates. But they can’t because they’d be unable to service the debt. You’d literally have a sovereign debt crisis. So the “plan” apparently is to make it look like they are fighting inflation but to continue it. Because that’s the only way to dig out of this level of debt. Paper it over.
    Schiff, Kiyosaki, and Dallio estimate that Worldwide Sovereign debt is running something close to 400% of global GDP. You don’t just bounce back from that. You’d have to tax everyone at 100% for 4 YEARS just to pay off the principle. That’s not even considering the interest payments.
    They are lying too us. Expect more inflation. Expect more MMT. Expect UBI. That’s the only way they can get out of this mess with a good chance of having their heads still attached to their shoulders. Their “Best Case Scenario” would be a 1930’s style “Mostly Peaceful” Depression.
    PS....the dirty little secret about CPI is that SSI cost of living increases are tied to it. So why wouldn’t THEY cook the books?
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    • Posted by freedomforall 3 months ago
      There is no need to increase interest rates to stop inflation.
      They do that to reduce credit (and $) creation.
      They can limit credit creation more directly by increasing the
      deposits required in banks for loans to be made.
      This would spread the pain of fighting inflation to the banks -
      who created the inflation problem for higher profits for themselves.
      Of course, that will not happen or even be mentioned as an option.
      This makes more clear who controls con-gress, doesn't it?
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  • Posted by mhubb 3 months ago
    and will make the Great Depression look like a picnic

    back then, most people could fend for themselves

    not today, when the stores run out of food in about 3 days, the REAL fun begins
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  • Posted by Lucky 3 months ago
    This article is a fantasy of do-goodist wokism.

    A collection of current phantasmagoric fallacies are compiled into a horror catalog of how evil the human race has become and how disaster is due next week.
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