Bubbabuddhist wrote:Someone better think of something fast.
Oh, they will - There's plenty of money to be made. Not that I personally believe it will help our longterm situation. Our civilization is far to rigid and dependent upon perfect economic and natural conditions in order to sustain itself, conditions which in the long run will never be forthcoming.
Whether a global depression happens this year, next year or in five years time, I'm pretty sure the party's over.
Short list of reasons why:
- Even one of the most conservative energy big-wigs Dr. Fatih Birol (chief economist of the IEA) is now admitting we're headed for an oil crunch in the next 5 years, to say nothing of those of a more liberal opinion source source 2
- We're setting ourselves up for an even bigger economic crisis than the Sub-prime mortgage distaster which triggerred the global recession of 2008. Nobody has really learned from the mistakes of 2008, and the solution thus far has been to borrow more and more money. source 1 source 2 source 3
- A growing number of nations in the world are now faced with the very real possibility of defaulting on their loans, leading to what has been dubbed the 'sovereign debt crisis' source 1 source 2 source 3
- Climate change. Scientists are now predicting that we're going to see some very extreme weather over the coming years source
- Just to top it all off, scientists are warning that this current volcano in Iceland, may in fact just be the beginning. source
So there's no shortage of 'spanners in the works' here and this fiscal paradigm of borrowing money that isn't there because: "We'll be able to pay it off in future" just doesn't cut the mustard.
Whatever happens, it's going to be a very turbulent decade, and I echo the concerns of the experts that everyone seems to be rather oblivious, or at least overly optimistic that the great human ingenuity will be able to solve all our problems. I hope like hell the optimists are right, but logic seems to suggest otherwise.