Employment, wages, income and consumption are all in long-term downtrends, and the policy of grandiose stimulus funded by debt has failed spectacularly to reverse these secular trends.
Charles Hugh Smith on the Death of the Middle Class (this is my first interview with Kerry Lutz of the Financial Survival Network, and I greatly appreciated Terry's keen questions on the era's key financial topics.)
Resistance, Revolution, Liberation: A Model for Positive Change will be available in a print edition later in April; buy it now as a Kindle eBook for $9.95.
We are like passengers on the Titanic ten minutes after its fatal encounter with the iceberg: though our financial system seems unsinkable, its reliance on debt and financialization has already doomed it.We cannot know when the Central State and financial system will destabilize, we only know they will destabilize. We cannot know which of the State’s fast-rising debts and obligations will be renounced; we only know they will be renounced in one fashion or another.
The process of the unsustainable collapsing and a new, more sustainable model emerging is called revolution, and it combines cultural, technological, financial and political elements in a dynamic flux.History is not fixed; it is in our hands. We cannot await a remote future transition to transform our lives. Revolution begins with our internal understanding and reaches fruition in our coherently directed daily actions in the lived-in world.
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