Quote:
Originally Posted by LEAKYSEALS951
Took the course. Read the book. Bought the kit.. Totally on-board (from what I skimmed).
Kidding aside- what to do about it? Please advise.  |
What could the people on the Titanic do?
If you understand that the world is changing around you, you will not be caught by surprise. Which then gives you the heads up so that you can better adapt to those changing circumstances.
Since at least the 1980's the American standard of living was built upon the expansion of credit and debt. The global economy was built and expanded upon by the American consumer. The consumer credit regime collapsed in 08, only to be superseded by the Sovereign debt regime funded by the Central Banks creation of money.
In essence everybody has taken a pay cut but it does not readily show up as inflation because the forces of deflation are so great. It does show up in narrow segments of the economy such as high end art, spoons and cars...like the AC 911's etc. Those markets show the real ramifications of money creation.
The reason why there has not been a general collapse of the system under the weight of debt is that only 20T Federal shows up on the books as interest bearing debt. The other 100T is in unfunded liabilities sic accounts payable..which are slowly being transferred over to being interesting bearing debt as we speak.
One thinks that the mistake America made was in it's level of expectations. Americans thought the US could sustain the level of economic growth and standard of living that the US experienced after WW2. When the world had changed from post war global devastation to a globally competitive world. Not only that but Americans began to believe their own hype of being able to have their cake and eat it to. Evident by the LBJ slogan Guns and Butter. Even BO and the current resident Meat Puppet seem to be under the same illusion of being a "rich nation." The balance sheet suggests other wise.
Every American has lived as a society beyond their means since at least the 1980's. Some have done real well but ultimately at the cost of robbing their future. The dichotomy is that while their balance sheets look prosperous the greater nations balance sheet is a disaster. Unfortunately the deck upon which they stand is the deck of the Titanic. The joke is upon them for it was all for naught, unless of course they die before the shyte hits the fan. Then they will have had the last laugh.