Nations that fail to adapt to the end of financialization and globalization will unravel.
We all sense the global order has cracked. The existing order is breaking down on multiple fronts. Those
who have benefited from this arrangement are doing everything in their power to patch the cracks, while those
who chafed under the old order’s chains seek a new order that suits their interests.
The task now is to make sense of this complex inflection point in history.
Two statements summarize the transition from the existing global order to the next iteration:
1. Finance dominated resources in the old order. Now the roles will reverse and real-world resources will dominate
finance. We can’t “print our way” out of scarcities.
2. Reshuffling currencies and credit will not stop the breakdown of the global order’s
“waste is growth” Landfill Economy Model.
Playing financial tricks has extended the life of an unsustainable economic model that glorified “growth”
from wasting resources. By expanding credit “money,” the current global order fueled unsustainable consumption
driven by unsustainable speculation.
Stop expanding “money” and credit and the global order of “growth” implodes.
Unfortunately for all those who benefited from soaring wealth and income inequality, the trick of expanding
“money” and credit has reached systemic limits. The dam holding all the toxic debt, leverage and fraud
is finally cracking.
Gordon Long and I discuss this in
The Dam Has Cracked (37 minutes). Our thesis is that the dominance of resources over finance leads to
a multipolar global order, an order that has the potential to be far more stable and sustainable than the
unsustainable, destabilizing “waste is growth” model that depends on financial fraud to maintain the illusion of
“growth.”
As I explain in my book
Global Crisis, National Renewal, scarcity leads to either social disorder or rationing. This article
explains how government’s role will shift from boosting demand (the Keynesian Cargo Cult) to limiting demand
in ways that maintain the social contract.
From demand stimulus to demand destruction (The Age of Loss)
Nations that fail to adapt to the end of financialization and globalization will unravel. Every nation
has a choice which path it takes: cling on to the doomed existing order of financialization, globalization and
the “waste is growth” Landfill Economy or embrace a multipolar world
and a degrowth model of doing more with less and incentivizing efficiency and durability rather than the
shoddy planned obsolescence of the debt-dependent Landfill Economy.
There is much more in our slide presentation.
Join: 👉 https://t.me/acnewspatriots
The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of AC.NEWS
Disclaimer: This article may contain statements that reflect the opinion of the author. The contents of this article are of sole responsibility of the author(s). AC.News will not be responsible for any inaccurate or incorrect statement in this article www.ac.news websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner. Reprinting this article: Non-commercial use OK. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.
Discussion about this post