economicollapseblog | A devastating economic depression is rapidly spreading across the
largest economy in the world. Unemployment is skyrocketing, money is
being pulled out of the banks at an astounding rate, bad debts are
everywhere and economic activity is slowing down month after month. So
who am I talking about? Not the United States - the economy that I am
talking about has a GDP that is more than two trillion dollars larger.
It is not China either - the economy that I am talking about is more
than twice the size of China. You have probably guessed it by now - the
largest economy in the world is the EU economy. Things in Europe
continue to get even worse. Greece and Spain are already experiencing
full-blown economic depressions that continue to deepen, and Italy and
France are headed down the exact same path that Greece and Spain have
gone. Headlines about violent protests and economic despair dominate
European newspapers day after day after day. European leaders hold
summit meeting after summit meeting, but all of the "solutions" that get
announced never seem to fix anything. In fact, the largest economy on
the planet continues to implode right in front of our eyes, and the
economic shockwave from this implosion is going to be felt to the four
corners of the earth.
2 comments:
If you drop a frog into boiling water....
Slowly, slowly the air is being let out of the tires. As money ceases to function as a measure of value, we will fall back on good old force. Which, unfortunately, is rather institutionalized. If only we cold tax wealth instead of income, but wealth is rather resistant to such things. Pity.
Nationalism, regionalism, ism-isms abound.
The dumb workers were brainwashed into concentrating on JOBS and INCOME instead of NET WORTH.
How do the Capitalist and Socialists and Communists explain not making double-entry accounting mandatory in the schools for the last 50 years? So this is the result of 50 years of consumerism with planned obsolescence. Planned obsolescence creates jobs. But it also creates depreciation on the demand side. So it is nothing but a treadmill for the workers who never accumulate wealth.
The government makes money on sales tax and income tax. The workers pay rent to the people with real wealth. So technology only makes more complicated forms of slavery.
Nobody knows what would happen if double-entry accounting was mandatory for EVERYBODY. But educators and economists can't suggest such a thing.
http://toxicdrums.com/economic-wargames-by-dal-timgar.html
Why haven't Libertarian been suggesting mandatory accounting. Oh yeah, Libertarians say nothing should be mandatory.
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