Tuesday, August 2, 2011

Episode 76. Crashonomics

Are we about to fall down down into the mouth of Jabba the Hut's pet Sarlacc?

In this episode, I talk about the real financial crisis facing America. Not the lightweight, scratch-the-surface stuff about the "Debt Crisis", but the politically unstoppable financial and social crash that many of us believe is coming.

I cite several well-regarded sources with differing perspectives on what will happen and why, and in some cases, the all-important when. Though in truth, even knowing when the next impact with the debt ceiling is will not help us much in predicting when the poop will actually make contact with the propeller.

The "smart crowd" is wrong about how they can steer our economy and society into a "controlled glide path" of very slow growth for 5-6 years, with limited pain and suffering, followed by a robust recovery. Our society lacks the political consensus to allow rational steering. And economics, the dim science, lacks the precision needed to thread the needle like that, assuming it's even possible.

We will instead slide into the Sarlaac's maw, after exhausting all available means of postponing the descent and after hoisting the top ranks of society as high above the pit as the government they control can put them.

It would be better, I argue, to fall in now, than to allow a desperate world to squander the wealth of nations in a doomed attempt to delay the inevitable.

We won't spend a thousand years in agony. Only a few, after which we get a fresh crack at creating a Free America, as some of the Founders originally intended.

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