« Will China Cap It's Oil Demand? | Main | Celente — "Greatest Depression" Still Coming »



Feed You can follow this conversation by subscribing to the comment feed for this post.

Edward  Boyle

"Who will guard the guards" indeed.

I could only think in reading this about:

A) Historical- Americans have a positive bias due to a postivie history compared to say, extremely pessimistic and cynical Russians.
B) Biological-Humans always want to see everything from the sunny side due to some sort of genetic bias which better allow survival for any living creatures.

The fiction of the scientific method is that we can be "objectively rational", considering every side of an issue without taking inot account our own interest. This is of course false. This is why there is positive bias. At this point in time if man had rationally understood what is going on most would certainly be tighening the noose and preparing to kick the chair or ladder away. But suicide is not a purely rational decison made on evidence calculated on a piece of paper. This is the essence of hope. As the dour John Lennon quipped in reply to Paul McCartneys mindless optimism in the song "It's Getting Better All the Time": "It can't get much worse". http://www.youtube.com/watch?v=gP4apO4dbhw Obviously that duo would never have been anywhere near as successful separately as evidenced by their history in the 70s. Biological success needs therefore a balance. I remark myself that any euphoric mood is often followed by an equally long and deep depreesive mood, i.e. my ups and downs balance one another out.

The economic expectations readjust and reduce themselves over time. I stop expecting a cool job with real status and good income (self developmental career path) but hope to have some sort of way to get by, make do and mend. This is what we are looking at. The five stage path of denial, anger to acceptance is a long haul for a Titanic sized economic system of the global economy. I bet it takes a generation to work the debt out of the system and replace the positive bias majority of those born in the good old postwar days with those who have no expectations and nothing to lose by getting their hands dirty and making it on their own without a molly coddling super state controlling their every move.

The comments to this entry are closed.