Replies

"This is sure to cause a huge rise in unemployment in the The World Is Going To End industry."

Good. The debt regime commences with more haste, then. We look forward to the end of that and the current political, business and academic rule, although most will perceive it as being the end (default). ...and no large manufacturing base or valuable currency to support such big government. Globalism is dying.

Big corporates and government administrators are having enormous fields of panels mounted for their PV systems to get "off-grid." More about our rich, kooky, bipartisan, survivalist leaders:

Arming Goldman With Pistols Against Public: Alice Schroeder
http://www.bloomberg.com/apps/news?pid=20601110&sid=ahD2WoDAL9h0
Dec 3, 2009
[Title and link only, as no content from Bloomberg is allowed to be posted at FR.]

Intelligent Investing Panel
Going Great Guns
Forbes
David Serchuk, 04.23.09
"Thomas:...But, you know, you could always find another job that would pay all right, and pay slightly above minimum wage, could allow you to at least live and have a home in most communities. And I think that's slowly changed."
[...]
"Forbes: I was in Colorado, and I knew people who had 200, 300 guns. And they'd stash them in various hidden places around their compound. This wasn't all that uncommon out west."
[...]
"Sonders:...we have gone from a couple decades ago being a manufacturing economy to more of a service-oriented, information economy. That has just displaced permanently a lot of workers,..."

There has been and always be a world economy unless civilizations collapse. This is what is referring to as “Globalism” by those who have not examined political economics in any great detail and prefer a crank view of reality. We have our share around this neck of the woods.

Financial contradictions between countries and classes generally do not end civilizations directly but are the results of their death throes.

Back in the 1880s and 90s in Chicago labor unrest had reached such fevered proportions that the ruling class of that day build mansions on the South Side which had few, if any windows, on the first floor. What were there were more like firing slots and the buildings were built like fortresses so great were the fears of the plutocracy for its lives.

Capitalist economies become less and less materialistic in inputs and outputs using less and less of valuable resources per unit of production. This takes many forms: reduction in amounts of metals used; reduction in unit sizes; increased rationalization of processes; reduction in labor per unit; transformation to a service economy. Most of these things are the product of market forces including union demands raising the real cost of labor.

If the American people can be weened off of class envy and decide decisively against attacking the capitalist system then government blocks to production and growth can be removed which would solve significant portions of our financial ills. Since class warfare has been a staple of American politics since Jefferson’s campaign in 1800 it is not likely that such a decisive decision is forthcoming particularly since 50% of the electorate pay no federal income taxes.