Oh deary me, it seems things can only get worse, despite a new round of media blather about ‘recovery’ and ‘green shoots of growth’, besides the appalling collapse in consumer spending, borrowing, lending, manufacturing, retail sales figures and the grotesque unemployment statistics coming out of Europe (Don’t tell me anyone actually believes that UK ‘unemployment is falling’ guff), it would seem that the capitalist game is almost up.  Who says this? Some doomsaying US website? a bunch of conspiracy theorists? rabid revolutionaries? Nah- try Tullet Prebon,  one of the largest inter-dealer money brokers in the world,  and Robert J. Gordon, an economist at Northwestern University in the US… Both seem to have come to the conclusion that growth is at an end, and as we all know, growth is the engine that gives the capitalist economy forward momentum in its alleged march towards universal prosperity, peace, freedom  and human happiness , as opposed to the metaphysically and morally bankrupt pursuit of greater profits and personal wealth at whatever human or environmental cost…Gordon is even predicting that there will be no more industrial revolutions…

So. what are we going to do now? How about a centrally planned economy on a global scale, like the Soviets tried? Hmm, I seem to recall that that didn’t work out so well, and that the Capitalist world denounced it roundly and nearly annihilated our species over the many ideological questions it raised (vital things, like how to manufacture and distribute margarine, bicycle pumps and denim jeans).  Of-course, neither system really gave a damn about the little people involved, those who made or needed stuff to live, and one system claimed to be more free than the other (well, actually both did, but neither really was)…The smart people however, described the Soviet system for what it was- a form of State Capitalism and very nasty and murderous it was too…


Perhaps this is where we’re heading, given the rampant, uncontrollable and catastrophic casino-economics of the last few decades, either that or we’re like, TOTALLY FUCKED, and the future is looking far more bleak than we can possibly imagine- The West is in virtually terminal decline, which will lead to another financial crash of epic proportions (worse than ’08) or the long drawn-out paroxysms of an economic death spiral.  The UK government faces the choice of cutting deficits with all the ‘unacceptable social consequences’ that implies (riots), printing more money (Q.E.) to cover loans, raising interest rates to avoid the (hyper)inflation caused by Q.E., with a resulting increase in mortgage repossessions, and a collapse in the housing market with an unemployment rate that goes through the roof leading to the abolition of benefits as being ‘simply unaffordable’…and don’t forget all the other crises too, like the global price of food thanks to commodity speculators, food grown for fuel and extreme weather conditions, the rising demand for energy from the newly industrialised world pushing up the price of oil and gas…


‘The entire world resembles a powder-keg in a room full of monkeys with matches. As economic conditions worsen around the world the poor, destitute and unemployed increasingly have begun to revolt against their banker masters. Money printing, reporting fraudulent economic data and pretending to make debt payments with newly issued debt does not employ anyone or put food in the mouths of the people. With worldwide unemployment surpassing 200 million, food and energy prices surging, peasants in the Far East treated like slave laborers, politicians stealing from the people to enrich their banker owners, and young people losing hope for a better tomorrow, the likelihood of strikes, protests, armed revolution, and war is high.’

‘we are at the confluence of four extremely dangerous developments which, individually or collectively, have
already started to throw more than two centuries of economic expansion into reverse. Before the financial crisis of 2008, this analysis might have seemed purely theoretical, but the banking catastrophe, and the ensuing slump, should demonstrate that the dangerous confluence described here is already underway. Indeed, more than two centuries of near-perpetual growth probably went into reverse as much as ten years ago.’

‘Doubling the standard of living took five centuries between 1300 and 1800. Doubling accelerated to one century between 1800 and 1900. Doubling peaked at a mere 28 years between 1929 and 1957 and 31 years between 1957 and 1988. But then doubling is predicted to slow back to a century again between 2007 and 2100. Of course the latter is a forecast.

In essence, Gordon is saying that there won’t be a fourth industrial revolution’

Well, I did say look away now…





1 Comment

Filed under Politics


  1. motley

    i have been reading alot of similar things on-line for a while now , especailly on sites like , James Howard Kustler website and The They all tie this in with peak oil and all three see the collaspe of the USA ( all three reside in the US) as inevitable, though of course it possible to mitigate the effects if the right action is taken by individuals and communiities in making every day life more sustainable.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s