There are a number of fallacies - or delusions, if you will- concerning our economies that are set to inflict enormous - in many cases lethal- damage in both our own rich lives and those of people elsewhere in the world who are far less well-off than we still are - for now. These fallacies are closely connected, which adds greatly to their insidiousness as well as the perverse influence they have both on ourselves, and on our awareness of what's happening around us. And whatever there may be that we can't change overnight, we can at least try to comprehend some issues, file them, and move on. Let’s do these first:. - Spy on America.
"San Francisco after the earthquake and fire; Turk Street, from the corner of Market and Mason"
1: Recovery
There is no economic recovery, there hasn't been one in the past five years, and there won't be one for a very long time to come. Claiming that we are seeing a recovery today equals claiming that a society can borrow its way into recovery. I'm not going there, and I strongly advise you to not do it either.
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2: Inflation
The fact that there’s all that zombie money around (or zombie credit, to be precise) leads many to believe the US witnesses inflation. Not true. First off, inflation is not the same as rising prices. Prices can rise because of different causes: scarcity, speculation and (real) inflation. And it’s important to be able to identify which of these causes is in play. If you call all price rises inflation, you lose the ability to distinguish between the causes, which means you lose a crucial analytical tool. There may be those who would like nothing better than for us to lose that tool, but it’s not smart to give in.
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3: Food prices
Let’s start with the news that the Tunisian president has fled his country, and the military's taken over, according to Al Jazeera. Mass protests are ongoing in Morocco and Algeria. The riots in Tunisia are not all about food prices, but they were certainly a substantial factor. And more, much more, of the same is on the horizon, in many different places. But food prices this time around are not rising because of widespread dramatic shortages, at least not so far. And Lester Brown, much as I like the man, has it completely wrong:
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http://theautomaticearth.blogspot.com/2011/01/january-14-2011-zombie-money-kills-real.html?source=patrick.net
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