The apparent resilience of the Status Quo masks its fundamental fragility.
For the last 5 years, I have been watching the slow train wreck that is our economy. We have been preparing by not spending extravagantly, not being home owners, and more or less being mobile. However, the “perception management” as you call it of the markets and the general economy today doesn’t seem to have an end. I have been waiting so long for the wheels to fall off, a black swan event, or generally to see capitalism take its toll on the existing markets, that I am starting to believe that maybe Mises was wrong. Maybe, in addition to helicopters, Ben does have the magic touch. In short, I am exasperated at the gullibility of the remaining market participants (or perhaps their culpability) and I’m starting to think that the great correction isn’t coming.
Because of that, I’d like to know what your thoughts are on how long the perception management can last. Do you have a notion as to what the key element will be that forces the train off the tracks? Other than silly stuff like logic and simple mathematics, what keeps you convinced of the eventual outcome of our predicament? This isn’t about trading, but more about fatigue.
Resistance, Revolution, Liberation: A Model for Positive Change (print $25)
(Kindle eBook $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.Rather than being powerless, we hold the fundamental building blocks of power. We need neither permission nor political change to liberate ourselves. A powerless individual becomes powerful when he renounces the lies and complicity that enable the doomed Status Quo’s dominance.
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