Economic Failure.The Western World has been overspending, over consuming resources,and living above its means for over a century now,particularly the US.This is normal for any period of change. A society’s roots must fail to allow the emergence of the new system. We are about to see the end of the money concept and the financial system.The next step in the journey of the naked ape will see a more pleasant future.It becomes important now to understand the rules,to be very observant and aware.
The US is bankrupt but is being funded by China and Japan.
The EEC is very close but being funded by Great Britain and Germany. This is a little more obvious when you look at Spain, Portugal, and particularly Greece.
Consider this – what happens when you max out a credit card then get another to pay the interest on the first, then another so you can continue to spend. That is a one-way track.
Eventually there will be no more cards willing to support you and the existing cards are pushing hard to recover their money. This is effectively what has happened to the western economy.
What happens when the debt is called in because they are no longer able or willing to support the world economically?
War as an Option
History says that a worldwide depression of this magnitude will attract unrest and war. The Roman Empire was a clear example. When their finances failed, they were invaded by three groups in rapid succession as well as losing their empire. There are some likely reasons for this outcome:
- Resource shortages
- Refusal (or inability) to repay debt
- Hungry neighbours
- Rulers using a war to direct attention away from themselves
It is likely that the major powers of the western world will go to war to force the issue and avoid paying their debts. This simply cannot work long term because a campaign of that size is incredibly expensive and there will be no one left to finance it.
My Only Hope
It is my sincere hope that the world leaders have been spending for a purpose other than greed.
I am aware that they have never been and never will be forth coming with their reasons but one time in a hundred, they do the right thing.
A Likely Outcome
My guess is that within 30-50 years the “financial” system will have disappeared, the concept of money will be a bad memory of a set of barbaric people.
Money will no longer exist; instead, personal effort will be the currency. Watching the way things are progressing I suspect that we will pass through a rough period then emerge into a society where the basics are supplied and the luxuries are earned.
In the interim
We have a set of hard times to negotiate. I have already noticed a tendency to creeping taxation by all levels of government as well as a hardening of policy in the corporate sector. This recovery is not going to be fun – but the result will be worth it.
It becomes important now to understand the rules, to be very observant and aware.