Zero Hedge: This is the fantasy: we can rebuild our entire global industrial society every generation or two forever.
The revelation that strikes me is the insanity of pursuing eternal economic growth, not as an option but as the only possible path: there is literally no alternative to extracting ever greater quantities of the planet’s resources to enable ever greater consumption by the planet’s 7.7 billion humans.
Stripped to its essence, this mad drive is about profit and power. The necessity is sold as the only path to prosperity for humanity, but it’s really about securing wealth and power for the few. more …
Opinion: Three Scripture verses come to mind.
- Ebb and flow of economies are as old as Genesis 41:25-30:
“This is the thing which I have spoken to Pharaoh. God has shown Pharaoh what He is about to do. Indeed seven years of great plenty will come throughout all the land of Egypt; but after them seven years of famine will arise, and all the plenty will be forgotten in the land of Egypt; and the famine will deplete the land.”
Suppressed interest rates (ZIRP – zero interest rate policy) and money printing (QE -Quantitative Easing) were designed by central bankers to smooth out the economy and avoid the natural economic order; times of famine.
The US is now in the longest economic expansion in its history. The political/economic elites appear ready to expand forever at the expense of future generations.
2. Hyperinflation comes on an economy suddenly Revelation 6:5-6:
“And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.”
The 3rd of 21 judgments of the 7 year tribulation period. A person will have to work a full day to earn enough to buy food for the day.
The rich are represented by oil and wine. Expensive commodities will be out of reach for the masses. The rich will not be effected for a time.
3. Foolish men have ignored Biblical prophecy Matthew 24:38-39:
“For as in the days before the flood, they were eating and drinking, marrying and giving in marriage, until the day that Noah entered the ark, and did not know until the flood came and took them all away, so also will the coming of the Son of Man be”.
The nations have accumulated so much debt that the only way to keep the global economy going is to create more money. It does not take a PhD in economics to know that counterfeit money destroys the value of money in circulation.
What began in 2008, QE and ZIRP, followed by monumental debt accumulation, will eventually be a major cause of the collapse.