In the longer term, the survival of the current economic model should not be taken for granted. Turner noted there was currently no alternative to growth cycles based on ever-higher levels of debt and leverage. The environmentalists said there was no alternative to growth based on an increase in CO2 emissions that on present trends would raise global temperatures by 4 to 5C by the 21st century. Trade unions warned that it was unsustainable for a small minority at the top to benefit from growth while workers were left jobless or saw living standards stagnate. theguardian/business/2014/jan/26/davos-2014-world-economic-forum-future-prospects This is what those who think we are headed for a crash dont get. Crash or no crash is not the issue. The real issue is making the shift to a new economic model that recognizes current and future reality. A crash COULD provide the impetus to completely overthrow the current extraction model that champions robber barons, but the more important point is that unless we do, it is a game of chasing our tails. Politicians will not lead, but will follow. When it the people decide to take charge is anyones guess. The sooner the better IMO. That to me is the ultimate lesson PLURSQ 2008-2021.
Posted on: Mon, 27 Jan 2014 13:08:58 +0000
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