(A great email from D.W., the Old Philosopher. Thought-provoking!)
Financial experts are concerned about all-time low interest rates, low returns on investment and the threat of deflation. The philosopher asks: "What's the problem here?"
The philosopher "knows" that the world economic system will fail. Why? Well, money is worth only what the man who has it or wants it thinks it is worth at any given time. At some point, the man with financial assets, including gold, will be forced to steal to get a jar of strawberry jam.
Growth is the ideology of a cancer cell. Economic growth and return may be represented by the killer algae blooms, the Pacific Ocean garbage patch and a multitude of species extinctions.
The world's population requires a land mass the size of South America to grow it's grains, fruits and vegetables and a land mass the size of Africa for it's grazing animal food supply. The world population cannot "achieve" the American lifestyle--there is not enough planet to support that.
So, I think we should be concerned about someone with a gun who wants our strawberry jam or our clean water. Financial concerns pale in comparison.
I refer you to:
(The Old Philosopher, D.W., is a friend who occasionally sends me his thoughts in interesting emails. It's time to share. His provocative point of view is simultaneously dark and funny. The Philosopher does not mince words, and I enjoy his take on things. Hope you do too. Thanks, D.W.!)
Some long for the days when no one owed anyone anything. If you stay healthy and live awhile, your longing may be fulfilled.
The capitalist system is built on borrowing from the future, an ample supply of [first] slave labor and [now] low-cost labor, and a disregard for nature. As capitalism unwinds and collapses like the bridge we don't repair, we shall return to a survivalist experience.
The capitalists and their client states are still planting the seeds of destruction of their own hallowed creation. To perpetuate their system, they moved production to low-wage countries and cut back on benefits and pensions. Their financial experts advise the populace to manage their finances in a manner that is frankly impossible for them to achieve.
The special ones among us who are "self-made" will be able to occupy a world where they must live in a secured, gated community just like the real capitalists do now. Their family will need a bodyguard to ward off carjackers and thieves. They might watch Fox News to find who is responsible for all the dreadful chaos. The capitalists will support their efforts to finger the villains.
Capitalism gave so much to so many, until there was simply not enough for so many/too many. Our planet now holds over 7 billion human beings, all striving for the consumerism and debt that are the lifeblood of the capitalist system. But the system can no longer support such numbers.
The party is not quite over. Enjoy dessert if it is available. Baklava will not be served due to the bee colony collapse.