Tuesday, December 02, 2008
"ZOMG, Teh markets r asplode"
So, there's a global financial meltdown and all kinds of jazz. The banks can't extend credit, and huge stuff-generating industries, like the Big Three are suddenly teetering on the brink, as people cut big purchases, and the house of cards collapses.
There are places, I'm quite certain, where this would get me lynched, but: I'm not entirely sure that's a bad thing. In the short term? Yes, horrible. I am deeply suspicious of the various government and corporate bailout plans and responses to the global financial crisis: My cynicism suspects they are not intended to mitigate the disaster at all, just to allow the priviledged few* to cut their losses before things really go south.
I think we're going to see another huge depression. And that's the "yes, horrible" from above - industries will collapse or violently restructure, and a lot of folks will get dumped ass-first below the poverty line. But I also think our lifestyle in north america is not sustainable without ongoing cultural and economic and literal violence committed against the rest of the world. And the rest of the world is getting fed up with our bullshit.
James
* For those keeping score at home, I'm in those ranks.
Labels: I think too much, Stuff and Things
posted by James at 4:00 PM
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