Paul B. Farrell: A ‘no-growth’ boom will follow 2012 global crash

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By Paul B. Farrell, MarketWatch


SAN LUIS OBISPO, Calif. (MarketWatch) — There is a global economic boom coming, but unfortunately, that boom comes only after a systemic collapse of the global economy, markets and capitalism — a collapse that may well eliminate billions of people from the planet. Shocking? Cruel? Brutal? Yes.

But folks, that is the coded message in many recent warnings from environmental economists who finally realize that nothing will wake up the public. Nothing but a catastrophic system failure. Only then, a path to reform, recovery, a new boom.

......(snip)......

Until we reach that point, we focus on everyday stuff, like jobs, the kids, short-term buy-sells and ideological stuff like today’s anti-science, anti-intellectual political rhetoric. Free-market capitalism. Don’t tread on me. Stuff like that keeps us in denial about the future. No, we don’t plan, don’t act until a crisis. Not till the asteroid is about to hit. Even then, we pray for divine intervention to rescue us. Or a Churchill to emerge, take charge of the impossible challenge, get people energized and focused on a common cause. Then we’ll charge ahead, solve the problem. Until then, our brains can only think short-term.

Massive denial of global catastrophe dead ahead

And yet, the facts about the coming catastrophe are so obvious. Just apply a little grade-school math and economic common sense: Our planet’s natural resources can reasonably support about 5 billion people. That’s a fact. Another: Today we have 7 billion. That’s a problem, 2 billion too many. We’re consuming commodities and natural resources at a rate of 1.5 Earths, according to estimates by the Global Footprint Network of scientists and economists. .............(more)

The complete piece is at: http://www.marketwatch.com/story/a-no-growth-boom-will-follow-2012-global-crash-2011-08-23

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1. Unfortunately I think the author is correct

"No, we don’t plan, don’t act until a crisis."

This has been a big problem in America for a long time. We really don't do long range planning but are mostly a reactive society. This is equally true in government as well as the corporate world.

[bananas]

3. Me too - and Obama deserves a large part of the blame for retaining Bush neo-con advisors. nt

[xchrom]

2. Recommend

[aquart]

4. Been saying it for years now.

[MindPilot]

5. I have had a bad case of "I told you so..."

pretty much since the Reagan years.