The Debt Crisis Deepens
Opinion: (Vladimir Putin, Prime Minister of Russia): “‘The debt crisis in Europe and the United States is being aggravated by their economies being on the brink of recession. There has been no…clarity concerning their recovery prospects, unfortunately for all of us, including for Russia.’
“The prime minister said that the crisis involving the sovereign debt of the industrialized states demands that politicians, economists, and investors reassess their traditional approaches.
“‘The summer-time tremor in the global economy demonstrated once again that the development models, based on debt growth, are not working,’ Putin noted.”
My Comment: And yet, until the crisis erupts fully and the inability of all governmental mechanisms to manage manifest completely, we will not hear anything from the authorities besides talk—and they will not hear us.
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I see our economies headed in this direction also. The collective of bad decisions that have accumulated over the years are finally catching up, and a point where it is realized that nothing is working will have to come to a head.
Success in the current economy amounts to tricking others to do our work so we may stand ennobled in passivity. The time of theft is ending. Too many have caught on. If we work together to develop the world, all of us can be at rest. Like the agricultural revolution, abundance is the goal and solution. It takes a desire to let go of our need to control others via false scarcity.