Coming right to the point, the fixers face not just one crisis, but many. They have a growth model that no longer works. They have aging populations and social welfare obligations that can’t be met. They have limits on available resources, including the most basic ones – land, water, and energy. They have a money system headed for a crack-up, and an economic theory that was only effective when it wasn’t necessary. Now that it is needed, the Keynesian fix is useless. If a recovery depends on borrowed money, what do you do when lenders won’t give you any?
Quelle: Economists With Their One-stop Solution: Stimulate Consumer Spending
Ich werde es garantiert noch erleben, wenn uns der Scheiss um die Ohren fliegt …
Bonner geht in einem früheren Artikel noch etwas genauer auf das „Problem“ ein:
With 6 billion people now competing for stuff, the whole idea of having a lot of stuff is being called into question. In the first place, there’s not enough stuff around to permit everyone to have as much as Americans – at least not without some huge technological breakthroughs. In the second place, Americans have run out of money to buy stuff. In the third place, it takes a lot of energy to make and transport so much stuff; the US no longer has access to cheap energy. And finally, the US economic model – in which growth is a result of stimulating consumers to buy more stuff – no longer works.
Quelle: Supposed to Believe Investors Can Avoid Calamities of Past by Studying Previous Market Cycles
