ZeroHedge is one of the gloomiest financial blogs out there. With good reason, of course. While the apocalyptic crash has really yet to happen, the slow slide to the very same economic/societal moves inexorably forward.
Misery spread widely, says Tyler Durden. Spread the pain, says I:
The 'something for nothing' mentality is now firmly in charge in the developed economies. As the G7 economies cascade lower under their past, present and future entitlement & politically connected reward policies, misery is now being spread widely! Misery being spread widely is the product of socialism, as real growth disappears and money printed out of thin air fills in for the lack of real income growth. All of this is paid for by the money you earn and store your wealth in, buying less and less, while your balance in the bank stays the same. The attacks on wealth and job creation are set to accelerate as politicians loot and plunder the private sectors to pay the unpayable promises and support those that don’t produce, by dis-incenting and enslaving those that do. Effectively, penalizing those who lead a prudent and productive lifestyle.
The cynical would argue that the goal is not to spur economic growth and job creation but instead is intended to formant economic collapse, grow government dependence, gather power as the man-made disaster unfolds, take freedoms and redistribute what wealth is left to the special interests in charge. This may very well be true but it could also be a matter of human nature and the generational re-learning of what role a government must be restricted to playing.
Oh, we're about to get schooled, all right...
Experience is a hard teacher because she gives the test first, the lesson afterward.
-Vernon Law, Pittsburgh Pirates, 1950-1967
Also equally appropriate:
The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.
We are about to hit a civilizational brick wall. Whether slow or fast, the end is clearly before us. and we'll wind up a wreck, either way....