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1. jackie sheeler 02.09.09 / 1pm

   you are SO right about this. our economy is in tatters because of the myth of perpetual growth, and the idea that by spending and spending and spending you are actually contributing to this mythological growth -- rather than mortgaging your freedom and your future, which is in fact the case.

   fire shoots out of my eyeballs whenever i recall the mantra back in 2001, after the WTC attacks: "if americans stop shopping, the terrorists have won." oh yeah? well, maybe if americans hadn't been doing so much pointless shopping in the first place, the terrorists would never have arrived. but none of our leaders at the time had the balls to suggest anything like that.

   and now here we are, in a corner where every choice comes with built-in consequences.
2. Vladimir 01.12.09 / 12am

   Ron have you seen the video interview with Ed Griffin and what is your say ?
3. Hackadelic 01.11.09 / 6pm

   It'll end in failure FOR SURE, as every linear system does. There's a great video which shows that (not brand new, but more current then ever).
4. Ron Amundson 01.10.09 / 12am

   Indeed, yet the challenge is the transition from a debt based economy to a saving based one, and the associated pain of said transition. Currently, there is still a lot of momentum to keep the debt based economy functional, certainly as you stated the banks and very wealthy will be serverly hurt if debt is reduced. Yet, for the average citizen, and business, if debt becomes less of an issue, or perhaps removed for the most part, the ability for growth and success is huge, albeit it will be drastically different.

   The problem is the short term... nearly every business, and every citizen depends upon credit. A lot of things are going to come crashing down as credit continues to go away, and that is the problem, and its not an easy one to solve by any means. The whole bailout idealogy had a couple things behind it. First to prevent massive bank runs and a collapse of the wealth of the rich, and secondly, to provide for an orderly unwinding of the debt based economy. On the first count, it has been a miraculous success, no bank runs, and for the most part, the wealth of the very rich has been kept intact. (sure some folks lost, but most are still quite whole on average). On the second aspect, an orderly wind-down, that is not happening on any scale... too many are focusing on keeping the whole debt based economy afloat, which imho, will eventually end in failure.

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