"Exponentially rising levels of debt, based on assumptions of future economic growth to fund repayment, will shudder to a halt and then reverse. Unfortunately, our financial system does not operate in reverse."
This link came to me due to an automated Google search request I have out. The author's main points, quoted above, seem valid to me. It is probably better writing than I do, that too. He's has a concept of "exponentially rising levels of debt." That sounds right, and he knows about "assumptions of future economic growth" that are supposedly going to fund repayment. There is, then, the assumption that all of this debt will be repaid, and that assumption seems to be linked to another assumption, and rather idiotic assumption about "growth," which assumes that this thing called growth will just go on forever, which I do not believe and which Schumpeter did not believe. So there's two persons who do not believe it. If we understood capitalism it could somehow "grow" in some sense, but without understanding it, there is no hope. He next links all of that to an comment that "our financial system does not operate in reverse." I declare. I do like the words, buddy.
Just the other day I was thinking about the "one-way" nature of present-day economics which mandates a profit underlying (at some point anyway) every business transaction, and this author seems to be onto this same insight. Simply put, every transaction has to have (or be somehow linked to) a profit. To "do" anything in a transactional system (simply a buy-sell system of economics), you have to receive money in exchange for some "product." And it is an individualistic system, that's the point...
There is still a difference between me and he. (Or "I" and he or me and him---WHATEVER.) The blogger, like other writers in general, just wants you and your family to be "prepared," so you and your family can "profit from the downturn" and so forth. This seems to me a quite distinct type of mentality and I do not really follow. I feel like I am not approaching matters this way. But this type of kind of mentality is of course the one supported by current mainstream American culture. Therefore many of the economics and business books out there on the market will imply the views represented by such a person, all of whom seek this kind of textual representation ---- innocently throwing information out, to others.
Anyway, you can find this gentleman's message-in-a-bottle for us at his website. He seems to have a corporate background of some sort----
...is an economic researcher & futurist specializing in energy and resource depletion. He is the founder and editor of the website ChrisMartenson.com, as well as its popular video seminar, The Crash Course.
---Like others he wants to start a cult. That would be a cult of survivors, who read (that's the preterit version of the "read" sign) his blog. Probably he wouldn't use the word "cult."
But the insights are great. I thought the insights above kind of made sense, so I excerpted them to give my public. Maybe he sees the future more clearly than I do. Nevertheless, I cannot really support...
This type of person has a few insights but the guy is wandering around --- in cyberspace! There's a certain cluelessness, a wanderingness around the yard if you will. How is Corporate Chris and his cult of readers going to make it in the bleak future? Stay tuned for the FYOOTURE. After all, it will definitely come.