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If you haven't watched the videos, I still recommend Crash Course by Chris Martenson.
The Gulf Cooperation Council is meeting this week. No word yet on if they've created their new currency to replace the US dollar locally for oil valuation. They're not the only ones considering a move away from exponential finances toward a fixed currency. There's talk in Russia and China as well. Heck, even a Wall Street Journal online editorial suggests the same thing in the USA. I'm a subscriber to Ron Paul's Campaign For Liberty group, and they're positively rabid about dismantling the Federal Reserve Board (fiat money loaned into existence on an exponential curve). Other people are a little less revolutionary and just call for local currencies that can be exchanged with the national one.
Some people are even more pessimistic than I am. Apparently, millionaires are building gated, guarded compound retreats and helicopter emergency exit strategies in case of sudden and total collapse.
I don't think this recession will ever be "over" in the traditional sense. I think we'll just grow accustomed to it. Disregarding the money creation problem, there's still the issue of the actual production and labor that money is supposed to represent. We can't support it indefinitely with current planetary resources. As it turns out, even the U.S. government (via a report from the Energy Information Administration) admits that peak oil has already arrived. We are now on the downslope of worldwide oil production. The economy as we know it today cannot sustain itself. Our money is wrong. Our resource consumption is wrong.
Change is fun, right? :/ Hey, at least we're not yet eating mud cookies.
The Gulf Cooperation Council is meeting this week. No word yet on if they've created their new currency to replace the US dollar locally for oil valuation. They're not the only ones considering a move away from exponential finances toward a fixed currency. There's talk in Russia and China as well. Heck, even a Wall Street Journal online editorial suggests the same thing in the USA. I'm a subscriber to Ron Paul's Campaign For Liberty group, and they're positively rabid about dismantling the Federal Reserve Board (fiat money loaned into existence on an exponential curve). Other people are a little less revolutionary and just call for local currencies that can be exchanged with the national one.
Some people are even more pessimistic than I am. Apparently, millionaires are building gated, guarded compound retreats and helicopter emergency exit strategies in case of sudden and total collapse.
I don't think this recession will ever be "over" in the traditional sense. I think we'll just grow accustomed to it. Disregarding the money creation problem, there's still the issue of the actual production and labor that money is supposed to represent. We can't support it indefinitely with current planetary resources. As it turns out, even the U.S. government (via a report from the Energy Information Administration) admits that peak oil has already arrived. We are now on the downslope of worldwide oil production. The economy as we know it today cannot sustain itself. Our money is wrong. Our resource consumption is wrong.
Change is fun, right? :/ Hey, at least we're not yet eating mud cookies.