The reality is that the recession never ended for 95% of U.S. households, and by many metrics the recession has deepened.
None of these charts is remotely expansionary. We can further question broad-based measures of expansion such as GDP statistically: in economies with high income/wealth inequality such as the U.S., the top 5%'s expansion of income and wealth creates an illusion that the entire workforce is doing better when the opposite is true.
(For example, household_formation)
Full-time employment: 44%
Persons per household: 2.72
Participation rate: 76% (the number of people who are counted as participating in the economy)
Are you in the New York City region? Meet other OfTwoMinds Like-Minded people(via Meetup) interested in building social capital and exploring the alternative ideas presented here. Check it out! (Thank you, Neil T. for establishing this Meetup.)
Things are falling apart--that is obvious. But why are they falling apart? The reasons are complex and global. Our economy and society have structural problems that cannot be solved by adding debt to debt. We are becoming poorer, not just from financial over-reach, but from fundamental forces that are not easy to identify or understand. We will cover the five core reasons why things are falling apart:
1. Debt and financialization
2. Crony capitalism and the elimination of accountability
3. Diminishing returns
5. Technological, financial and demographic changes in our economy
Complex systems weakened by diminishing returns collapse under their own weight and are replaced by systems that are simpler, faster and affordable. If we cling to the old ways, our system will disintegrate. If we want sustainable prosperity rather than collapse, we must embrace a new model that is Decentralized, Adaptive, Transparent and Accountable (DATA).
We are not powerless. Not accepting responsibility and being powerless are two sides of the same coin: once we accept responsibility, we become powerful.
Kindle edition: $9.95 print edition: $24 on Amazon.com
To receive a 20% discount on the print edition: $19.20 (retail $24), follow the link, open a Createspace account and enter discount code SJRGPLAB. (This is the only way I can offer a discount.)
|Thank you, Helen S.C. ($10), for yet another graciously generous contribution to this site-- I am greatly honored by your steadfast support and readership.|