“Every one of these implicit assumptions has been turned on its head: growth is barely above the rate of inflation; by some measures, it has already fallen below the real rate of inflation. Debt is increasing much faster than income or wealth. Virtually all of the recent expansion of wealth/income is flowing to the top 10%. This is why the status quo is doomed: there is no Plan B or even conceptual alternative to the ‘more growth forever‘ agenda. The oft-touted fantasy is that ‘we’re going to grow our way out of this,‘ but it is abundantly clear that debt is rising far faster than growth or incomes.”
http://charleshughsmith.blogspot.com/2013/06/why-status-quo-is-doomed.html
Related posts:
How a Pacifist Accidentally Infused the FBI with Cash
$179,000 Each--In Debt
How to Lose a Constitution—Lessons from Roman History
“Privacy” Held Hostage By “Security” – Public Unimpressed
Bourgeois Dignity featuring Deirdre McCloskey
Peter Schiff: The Biggest Loser Wins
The Only Truly Compliant, Submissive Citizen Is a Dead One
Is America A Police State? Marc Victor @ Casey Conference
Euro Pacific Capital Global Investor Newsletter: October 2012
Japan's Debt Problem Visualized
The Taper Caper
The American Surveillance State Is Here. Can It Be Evaded?
Pippa Malmgren on Success
Why US government IT fails so hard, so often
Could the Government Force You to Tell Your Deepest Darkest Secrets?