Tuesday, February 17, 2009

The end of the age of credit is near

Davos Debt & Denial

We are at the end of an extraordinary epoch, the end of the age of credit. In 1981, Bucky Fuller predicted the collapse of the present power structures in tandem with an unprecedented crisis that would transform humanity. That time, the collapse of the world power structures, has now arrived. Transformation comes next; and when the crisis finally passes—and it will—tomorrow will be a far better day. Awareness, community, faith and a bit of gold and silver will be invaluable in the days to come

Posted by sold 2 rent 1 @ 09:37 AM (901 views)
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9 thoughts on “The end of the age of credit is near

  • sold 2 rent 1 says:

    According to Calleman we are in the Sixth Day (Nov 2008-Nov 2009); a resting period between 2 massive destruction phases.

    The Sixth night runs Nov 2009-Nov 2010. We can expect massive destruction of the financial system during this time.

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  • If the poor old gold bugs get banned, surely this nutter should be?

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  • sold 2 rent 1 says:

    QUOTES
    “Unstable systems can function for years without serious problems. But over time, unstable systems will always break down. We are witness to such a systemic failure today. Global credit markets are slowing and contracting. The capitalist system responsible for economic expansion and wealth is in disarray.”

    “Debt, in capitalist systems, is a wondrous device. That is, until it can’t be paid back. Under capitalism, credit fuels expansion but it does so at a cost. As capitalism expands, credit becomes debt and the greater the expansion, the greater the debt.”

    “Capitalism’s fatal flaw is apparent only in its later stages. As capitalism matures, its inherent systemic instability manifests. The very expansion of capitalism sets in motion its demise. The Achilles heel of capitalism is its perpetual need to expand.”

    “Only perpetual capital expansion can create sufficient capital flows to service and retire previously created debts, the amounts of which are always increasing because of the accruing compound interest being charged. While any slowdown is cause for worry, a contraction bodes far worse.”

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  • good old Calleman.

    Didn’t he like dressing up as a woman?

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  • I think that this is getting into the realms of fantasy. Haven’t a few people predicted the end of our economic and power system on various occasions? Ironically, the people who claim to see the big picture here are seeing anything but. We have always, since the dawn of civilization, had similar power structures, on various scales – the sociopaths gravitate towards the seats of power and things are then structured to work for them. On a local level this is controlled by communities, so in the past was less of a problem. Now we have them on the world stage, where the fews of a few can end up influencing the world. Doesn’t matter what the system is, communism, capitalism, its function will always be corrupted in favour of the few and the power structure will remain and corrupt the next system that comes along. Real change for the benefit of all does not come by revolution, but by evolution. Revolution puts the corrupt in power again.
    What is dangerous about these predictions is that it takes any participation by us out of the equation – just sit back, it will all happen without you doing anything, you don’t have to make any change – wrong, wrong, wrong.

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  • A bit of gold and silver will be useful. In other words, capitalism will collapse but the greed and obsession with money will not change?What a joke.

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  • During the boom, everyone who said this boom was fundamentally different, that the rules had changed, that we could go on forever, was wrong. As they are during every boom.

    Now it’s a bust, and some people are saying that this bust is fundamentally different, it’s the end of capitalism, and society will need to change radically to go forwards.

    Sorry, but I’m not buying it. Yes, it’s a severe bust. Maybe the worst so far. And some changes will need to be made. But I’ve not seen a reason to believe the people who think that this bust is the end of everything have any more insight than the people people who thought this boom was different.

    People muddle through. It’s one of the things we *are* actually good at.

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  • sold 2 rent 1 says:

    shippy,

    I have read it, thanks all the same
    It was excellent.

    The best bit for me was his 8.6 monthly internal cycle from 2007 to 2011.

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