Or you can have it the fiscal way……


Here’s an excerpt:

  • The financial model of growth in the developed world has run its course and financial assets will be significantly reduced in value over the next few years.
  • Systematic deleveraging will lead to persistently high unemployment and widespread poverty.
  • Societal institutions or systems that rely on financial stability will continue to deteriorate at an accelerating pace (education, healthcare, etc.).
  • States running large fiscal deficits to support their private economies will quickly slide into insolvency and default on ambitious promises to their citizens.
  • Housing, food and energy will become unaffordable for millions of people as wealth in the form of revenues, investments and savings is rapidly destroyed, and short-term speculative plays in the commodity space fueled by central bank liquidity will only make this dynamic worse.
  • Political institutions or systems that have exercised power during the unprecedented financial boom will come under an equally unprecedented societal pressure and will most likely be overhauled or completely dismantled.

Not much different from Martensom’s Egypt appraisal, or the Club of Rome’s 1972 ‘Limits to Growth.

Either way you look at it…………..

We got some more fruit-trees in today, a new chook-perch, did some gardening and composting, got a few logs ready for the log cabins.  Weed-eated some (that’ll change!) did some testing of the fridge thermost, inconclusively. The pelton is keeping up with easily, and given that the tests are going below zero, it’s all good. Power to burn – well, enough. Days of wine and hoses…..

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