Tag Archives: economic collapse

Recovery? What recovery?

Despite the happy talk coming out of Washington and New York about the supposed economic recovery, the present economic and political order remains on course toward self-destruction. I’ve said it over and over again that the fundamental flaw is the compound interest that is built into the global debt-money regime. The fact that virtually all money is created by banks that “lend” it into circulation at interest causes debts to grow faster and faster with the passage of time. A quick glance at the timeline for public and private debt makes this obvious.Total-US-DebtTo2014

Prof. Richard Wolff, in the video below, does not mention this debt-growth imperative, but he does a good job of explaining how the governments and the central banks managed to temporarily forestall total collapse following the 2008 financial crisis, and why their actions are failing to solve the basic problem of slack demand.

We need to look beyond economic ideologies to find ways of defusing the debt bomb which grows bigger and more deadly with every passing day. A shift toward innovative, interest-free, approaches to the exchange of value and the financing of enterprise development provides the most promising route toward a soft landing. See The End of Money and the Future of Civilization.

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How to prepare for the new economic paradigm

For years I’ve been saying that we are making a shift toward a new economic paradigm, and recommending that people prepare for it. About a year ago I posted a revised version of my Survival Strategies for Troubled Times on my other blog, Tom’s News and Views. Here is a pared down list from another related article that comes from a website called, The Economic Collapse.

10 Practical Steps That You Can Take To Insulate Yourself (At Least Somewhat) From The Coming Economic Collapse

1 – Get Out Of Debt

2 – Find New Sources Of Income

3 – Reduce Your Expenses

4 – Learn To Grow Your Own Food

5 – Make Sure You Have A Reliable Water Supply

6 – Buy Land

7 – Get Off The Grid

8 – Store Non-Perishable Supplies

9 – Develop Stronger Relationships

10 – Get Educated And Stay Flexible

You should read the full article here.