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I don't correspond with near as many people overseas as I used to, but many of these folks are still "counting on the US" to pull the planet out of the worldwide "depression." So many of these folks are very smart, clearly see the problems in their home countries, Central Europe, Scandinavia, Indo-Pacific, South America, but are counting…
I don't correspond with near as many people overseas as I used to, but many of these folks are still "counting on the US" to pull the planet out of the worldwide "depression."
So many of these folks are very smart, clearly see the problems in their home countries, Central Europe, Scandinavia, Indo-Pacific, South America, but are counting on "US" to not bail them out, but restore sanity to the global system!
They disagree with me when I point out that it is the globalist system that is the problem.
Peter, I refer them both to you, and to "The Last Refuge" (Sundance), but I don't know if they actually read anything more than the quotes I send them.
Thanks for the referrals! (As Donald Trump observed in "The Art Of The Deal" all publicity is good publicity!)
"Globalism"--aka "corporatism" and "financialism"--is actually not a new phenomenon. It is merely a reincarnation of the same mercantilist impulses that Adam Smith wrote "Wealth Of Nations" to criticize, yet which managed to survive to be reborn under successive corporatist iterations ever since the beginning of the Industrial Revolution.
That this has rather outsized global ramifications can be seen just by considering the fact that the most severe economic downturns in US history (the 1872 Depression--aka, the "Long Depression"--the 1929 "Great Depression", and the 2008 "Great Recession") all had global overtones and ramifications.
What often gets left unmentioned is that the globalist structure, just like the mercantilist structures of the 18th century, cannot endure without the constant collusion between the Big Business combines and Big Government bureaucracies.
It's not that capitalism is unsustainable. It's that we don't have free-market capitalism, but regulated market mercantilism, which is predicated not on equal exchange but rather on the rent-seeking structure of perpetual trade and commercial surpluses--and even a notional understanding of the principles of thermodynamics and how they apply to complex systems broadly suffices to confirm that such structural disequilibria can never be sustainable.
Very well said!
That deserves "immortalization!"
I will be using it in my correspondence.
Thank you.