Tuesday, September 30, 2008

"Credit crunch" focus as symptom of a dangerous mindset

Anthony Judge discerns the liminal - Credibility Crunch engendered by Hope-mongering;
As an indicative model of a future "credibility crunch", the "credit crunch" draws attention to consequences of a complete erosion of confidence and trust in the institutions and authorities that have been so complicit in the hope-mongering processes by which the crisis has been engendered. In this respect, the fact that both funds and markets have been "frozen" by the crisis is suggestive of how even non-financial and informational transactions would be "frozen" by any future more general crisis of confidence. The loss of "liquidity" now experienced in financial terms may then translate into a more dangerous loss of flexibility in both socio-economic and psycho-social systems -- with unpredictable consequences.

Recognition of dangerous underlying patterns: Beyond the financial crisis, it is therefore even more vital to identify other -- even more fundamental -- systemic processes that are also effectively based on "confidence". Are they vulnerable to a form of "subprime crisis" as a result of questionable "lending" -- through hope-mongering? A number of candidates for consideration are identified above. But the prime candidate, worthy of the most careful attention, is overpopulation -- in relation to the capacity of humanity to live within its planetary means, and especially in the light of the many analyses of "overshoot" and the manner in which such warning signals have been authoritatively considered to be of no significance

In whom should one have confidence when authorities have abused trust to such a degree -- and with a minimum of humility and self-criticism? The intellectual brilliance of the best and the brightest, and their supporting institutions, is now completed dissociated from the hopes that might otherwise be appropriately placed in them. It is their very "ingenuity" that engendered the crisis. It is in this sense that hope-mongerers need to be seen as operating like the mortage brokers that engendered the subprime crisis through "toxic loans". To what extent do "lobbyists" perform a similar function -- as "pushers" of the hope-drug in a drug-dependent culture?
Remember, you're only witnessing the doom of the financial world now; you have yet to see the collapse of the transport and food infrastructures, which are fluttering at the moment in sync with fluttering oil prices. When the inevitable and imminent decline in world oil production starts to bite hard again, all your apparent support structures of normalcy will really come unglued.