(5/7)
Economic Suicide
Apart from raw material extraction, technological corporations, weapons industries and vast service sectors (services servicing services), the Western world relies on ‘funny money’ in order to survive. In other words, it lives off printing presses that print banknotes. These create unpayable debt and systemic inflation. For decades the Western world has been living in a fool’s paradise of debt. However, it is now reaching a point when it can no longer even pay off the interest on that debt. Bankruptcy beckons.
On the other hand, the real world relies not on speculation in ‘derivatives’ and ‘futures’, but on solid things, commodities, food to eat (grain, maize and the fertilisers to grow them), oil and gas to power and heat, raw materials and minerals to manufacture with. In other words, for several decades the Western world has been living in a bubble. That bubble is now bursting: the chickens are coming home to roost, perhaps already this winter, if not before. Expect widespread protests throughout the Western world and against the Western world.