C2, it's just financial relativity theory in action. <
What's going on today, > Greece has just a few days left to make payment. Swarms of other people and countries are similarly finding a mismatch between their expected expenditures, their relative incomes, their asset backing and their promise to pay, their investment hopes and their dividend reality, their employment prospects and their actual lack of employment and pay decrease, their interest on savings expectations and their unHappy Meal returns.
It's time for another test of the asset backing as collateral for extravagant promise to pay. There will be collateral damage.
My subconscious was adjusting as I slept. I had a dream an hour or two ago, not long before waking as one does with dire subconscious adaptations. My conscious was prepared for the decline when I woke and clicked.
Unfortunately, my dream was more related to the underpinning psychology of people compared with chimps and bonobos when the going gets tough. There was a programme on tv last night about chimps and bonobos. There was also reporting of the riots in Greece and the deaths of 3 people working in a bank.
My dream was to the effect that people get their emotional states from others in a feedback loop. When things are going fine, that's nice. When things are not, it's not. Pretty soon, people, with more affiliation with Chimp political processes and hunter gatherer found-wealth dominance hierarchy than Libertarian free exchange of value non-initiation of force ideology, start to form themselves in the usual collectivist mayhem as in Greece and then into strong man legions.
Libertarian ideology is what creates wealth, to the extent that it's allowed to exist by the mindless mob. There is a horrific mindset "If I can't have it, nobody can" which leads in the extreme to the sort of result when a man murders a woman [the usual way around though an energetic woman can do the reverse] because she was unfaithful or otherwise taunting the man going mad. On an individual basis, it's horrific enough. When "those Chinese stole my job" or "those bankers took my house" or "those politicians got to give me opm" or "...etc..." gathers steam enough, as in Greece, bad can lead to worse.
Things can always get worse and worse until everyone is dead. It's only through applied Libertarianism that things get better.
I remain optimistic that what I expected in 1999 which took until Y2K to arrive, and which happened, [albeit I didn't expect the dip to be quite so extended - though the 911 and war events didn't help], will happen again. But this is a much more serious crunch digging deeply into hordes of people.
We are only part way to finding out what will be the outcome. Interest rates remain at zero which is an unHappy Meal amount for savers. We have to wait until the bust collateral is redistributed and the interest rates are back up before we will have much idea of the mob's response to their sadly reduced reality.
Mqurice |
