Daniel_Plainview wrote:dolanbaker wrote:I think that the economy is in for a fast crash as it's becoming increasingly clear that infinite growth is no longer sustainable and the debts that future growth was supposed to deal with, will never be repaid.
The only thing preventing a "fast crash" is the ability of governments to issue more debt and print more money. But this short-term fix merely papers over the festering, underlying problems ... and it ignores PO. Meanwhile, most sovereigns are now past the breaking point in terms of soaking up more debt; so when the next global systemic crisis hits, one of two outcomes are possible: (1) fast crash; or (2) sovereigns begin printing like mad as they bailout the banks and other TBTF institutions.
But if the printing presses are switched to turbo, then the prices for commodities (especially oil and food) will skyrocket ... which will also end in a fast crash.
Absent a miraculous new energy source, I don't see any plausible way around a fast-crash scenario.
I agree. The longer the crash is delayed, the worse it will be. Each day there are more people and things being supported by a dwindling, irreplaceable environmental and resource base than ever before.