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Page added on November 29, 2007

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A Diary Of The Onset Of The Greater Depression

…For years I have been referring to the Terminal Triangle: Peak Oil, climate change, and global economic meltdown, the latter explained in Danny’s book in terms of the international ramifications of the Greater Depression. And of course, there are “other horsemen” of the apocalypse, as enumerated by Sally Erickson in her recent blog, so I find it impossible to discuss the mortgage crisis without connecting it with the additional impending global catastrophes that spell the end of the world as we have known it. Just as we have entered the Greater Depression, we are engulfed by collapsing institutions-especially the American political system, which are in an abject state of dissolution and therefore incapable of affecting change at requisite levels, for all the reasons Danny has so thoroughly documented in his book.



As for an educational system that will teach financial literacy instead of testing students five hours a day, four days a week-well, there’s just too much dumbing down to be done. After all, who prints those tests and the textbooks students can barely read even when they’re seniors in high school? Go to the head of the class if you answered: “Subsidiaries of all the scumbag corporations you just mentioned above.”


When I talk about collapse, my second paragraph usually goes something like, “Get out of debt, get out of debt, get out of debt-unless you plan to be an unincarcerated (or incarcerated) wage slave of corporate capitalism for the rest of your life.”


I could not agree more with Danny’s directive to talk about debt, become financially literate as individuals, avoid and liberate ourselves from debt, and watch and share with others “In Debt We Trust.” But I must add that all evidence points to the frightening reality not only of an economic depression dead-ahead, but an even more frightening scenario: a world in which it will be very difficult to obtain food, drinkable water, or healthcare-thanks again to the Terminal Triangle.


Carolyn Baker



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