Tons of human need in the world but not enough money demand to keep the economy from springing a gasket and going into a tailspin. Something’s wrong with that picture?
All that debt in the world is predicated on consistent “growth” to pay back. Economists like 3% a year to avoid problems. We are at the point where there is too much debt in the system, while, paradoxically, more is needed to expand the money supply and service existing debt. Juxtaposed with an energy situation that restricts growth as well, doesn’t paint a nice picture. And top it off with increasing global unrest and a blossoming anti-consumerist counter-culture in the imperial center.
It’s not looking good for our old friend growth to save the day…. And boy is this going to drive us crazy! Something that needs never ending growth to sustain is a ponzi-scheme. Not to mention the ideology of cancer.
Yeah and mass saving is not good for our economy. A sudden streak of frugality could be devastating.
