Quote:
Originally Posted by Moses
There has never been a better time to be alive.
Global poverty is down. Literacy is up. Hunger is down. The environment is getting cleaner. Longevity is at an all time high. The list goes on..
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I will give you your stats as being a given...you have credit. Upon what back, what foundation have those accomplishments been achieved...the creation of debt. Eating a hamburger today (your stats) and gladly repaying it next Tuesday. Next Tuesday what do you do for lunch money?
The economy isn't producing enough of tax revenues to meet expenses...so the deficit and debts continue to climb. You can't jump start the economy because so much money is being diverted into paying principle and interest. You can't buy a new TV set when you are paying principle and interest on yesterdays hamburger. You can't stop buying ever more TV's cause it slows the economy which causes DEFLATION. You have to cut price or extend even more credit to move the merch in the warehouse....to entice already strapped consumers. Further the sword of technology and off shoring has displaced many formely higher paying MC jobs. So the consumer is earning less money in a Burger King job or is receiving a subsidy from the gov. (On a side note how do you train a guy with an IQ of 100 to do a technological job that requires an IQ of 115).
Unfortunately the resources of the planet are FINITE...sooner or later you run out of resources to exploit. In an ever expanding economy of scale you are expending an ever greater amount of resources. Further any activity entails environmental degradation, nothing is with out cost and is entirely clean. China is finding that out.
At some point the trap snaps on the rat. One of his own making btw.