Reply #21: We're on borrowed time [View All]

[Dogmudgeon]

America is very "leveraged" right now. And that ain't good.

The only consolation is that "we" own a lot of foreign capital, too. There will be no planned castration of the Dollar; Armageddon will happen as a result of a cascade of market runs, devoid of planning or reason. And it will leave the entire world much poorer as its edifice of capital formation collpses like a skyscraper built with substandard steel.

If this happens in the autumn of the year before a harsh winter with higher fuel prices, there will be a death count to go along with the financial stats. These problems are synergistic, involving finance, "Peak Oil", climate problems, political and religious terrorism, neo-fascism, public health (epidemics), and cultural upheavals.

I don't think many people appreciate the state we're in. These processes have been working since the 1970s and we were always able to compensate -- world-wide. But the slack we have is just about gone. We need to fix some problems and fast, or there will be more shit than fan.

--p!