Originally Posted by itstarted
The last cited article is so good, I'm putting it here again, hoping that others will take the time to read it.

The "Bear" is as usual far ahead of his time, and this time is no different. Realistic looks at the future, with some historical and analytical basis, are SO much better than the trite airhead talk on some of the financial cheerleader shows... aka ... Fox Business News, CNBC, and often Bloomberg News.

The globalization argument, with the effects of GDP in other countries is good and mostly logical... and probably more correct. I believe that the Bear missed the cumulative effect of our advanced infrastructure in his calculations....

I agree with most of your comments, Cousin It.

Don't count too much on our "advanced infrastructure," though. Sadly, it is not as "advanced" as it once was. Also, entropy is our enemy. Complicated structures tend to fall apart much more easily than simple ones, and never in history has a society been as unnecessarily and dangerously complicated as American society.

As is usual with economists, the article did not deal with the catastrophic effects of the inevitable environmental degradation and ecological collapse which will become evident in the near future.

One is looking at the future with rose-colored glasses if one imagines we are facing another Great Depression. We should be so lucky. We are facing something much worse than that.

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