What’s Supposed to Happen, and What Might Happen: 3 Baseline Scenarios

Via: Of Two Minds


Monday, March 18, 2013

We all know what’s supposed to happen in the global economy: we get more of everything: more stuff manufactured, more coal dug up and burned, more “aggregate demand” i.e. insatiable desire for more of everything, more innovation, more wealth, more money printed, more debt taken on to buy more stuff and more education, more tourists occupying more beaches sipping more drinks, more strip malls built, more airports expanded, more jobs created, more taxes collected– more “growth” of everything, in every way and every day.

Beneath this expansive more-of-everything splendor, the power structure is supposed to remain unchanged: a small political-financial Elite holds all the reins of power, a manufacturing-consent propaganda machine (a.k.a. mainstream media) persuades the masses all is well, wealth continues to accumulate in the top 1/10th of 1%, money is printed/created and distributed to the State-financial partnership’s fiefdoms and cartels, moderate inflation eats away at the value of wages but makes debt cheaper to service, and the Upper Caste of technocrats continue their well-paid enabling of the Aristocracy’s dominance.

The dream of tens of millions of young people is to join the Upper Caste of lackeys, factotums, toadies and apparatchiks serving the Aristocracy’s cartels and fiefdoms.

In sum, the pie of wealth is supposed to expand so fast that the 10% left for the bottom 90% will be enough to satisfy their high expectations of endlessly rising prosperity.

Read more: here

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