'First world' economies are a house of cards, none more so than the US and UK plc's economy. Our service sector based economy is nothing more than consumer debt pilled upon consumer debt, supplied by corporations who are being socialised by the state to keep the game going. Essentially, what our corporatist economics has done is turn the structure of modern industrialised economics "upside-down" in the 'first world'- creating a top-heavyness based on services that are increasingly fake, fixed, or based on fraud. Governments tax corporations pretend amounts, corporations offer us pretend jobs, and corporations announce pretend profits, and our job is to consume, consume, consume based on debt, debt, debt. Meanwhile, our over-heated, consumer debt-dependent service sector is reliant on the huge manufacturing sector and resources of China and others, and on cheap primary sector resources from the third-world and oil-producing nations. This was the planned global economic system - a 'first world' of consumers (GLOBAL NORTH; Europe, US, Japan), a 'second world' of producers and consumers (GLOBAL MIDDLE; China, Russia, etc) and a 'third world' (GLOBAL SOUTH) of producers and cheap resources - if they're 'lucky'. Only now the whole system is breaking down, and the first world or global north is due south because the debt levels, cheap energy and corporate fix is no longer sustainable. As such, we have a top-heavy service sector economy based on consumption based on debt, most especially in the US and UK. When the bubble bursts, we'll be a lot worse off than Greece.vineri, 5 februarie 2016
'First world' economies are a house of cards, none more so than the US and UK plc's economy. Our service sector based economy is nothing more than consumer debt pilled upon consumer debt, supplied by corporations who are being socialised by the state to keep the game going. Essentially, what our corporatist economics has done is turn the structure of modern industrialised economics "upside-down" in the 'first world'- creating a top-heavyness based on services that are increasingly fake, fixed, or based on fraud. Governments tax corporations pretend amounts, corporations offer us pretend jobs, and corporations announce pretend profits, and our job is to consume, consume, consume based on debt, debt, debt. Meanwhile, our over-heated, consumer debt-dependent service sector is reliant on the huge manufacturing sector and resources of China and others, and on cheap primary sector resources from the third-world and oil-producing nations. This was the planned global economic system - a 'first world' of consumers (GLOBAL NORTH; Europe, US, Japan), a 'second world' of producers and consumers (GLOBAL MIDDLE; China, Russia, etc) and a 'third world' (GLOBAL SOUTH) of producers and cheap resources - if they're 'lucky'. Only now the whole system is breaking down, and the first world or global north is due south because the debt levels, cheap energy and corporate fix is no longer sustainable. As such, we have a top-heavy service sector economy based on consumption based on debt, most especially in the US and UK. When the bubble bursts, we'll be a lot worse off than Greece.
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