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One Word Defines This Era: Stagnation
Submitted by Charles Hugh-Smith of OfTwoMinds blog,
If we call stagnation progress, what have we accomplished?
Beneath the surface PR of progress, the operant dynamic of this era is stagnation. Cheerleaders of progress have a few unalloyed wins in the past 15 years--battles won against diseases, for example--and a general increase in living standards among the world's poorest populations.
But much of what is sold as progress is an inch deep and a mile wide: the proliferation of smart phones and social media for example.
What the cheerleaders of progress don't dare mention is the stagnation of quality, political choice, productivity and growth that isn't dependent on the hyper-expansion of debt and financial speculation.
I addressed some aspects of the stagnation of quality in China and the Decline in Quality (and Soon in Profits), but this only scratches the surface.
In effect, rather than advance the quality of goods via increasing automation and competition based on quality, the West moved much of its manufacturing to China where the work involves hand-assembly of inferior quality materials and parts--a process in which every possible corner has been cut to lower costs.
How many of you can honestly claim that the services you get from government or global corporations are better now than it was in 2000, or 1985? Get real, people; more often than not, the service has declined or stagnated rather than improved.
Meanwhile, what services you do get cost a lot more. To get local streets repaved, now you have to approve a bond--in other words, the cost of repaving streets is being shoved onto our kids and grandkids.
If you call that progress, you are delusional.
In the political sphere, our choices have stagnated: can anyone claim politics has progressed when the same two dynasties of decline that have dominated the news cycle for decades (George Bush I from 1980 when he ran against Ronald Reagan in the Republican primaries and Billary Clinton since 1992) are still frolicking in the political sewers of the nation, 35 years and 23 years on?
If you call that progress, you are delusional.
I have read a number of essays by conventional economist cheerleaders claiming that American household incomes have risen by 50% in real (adjusted for inflation) terms since 1980 (the beginning of the age of financialization, by the way).
Ludicrously, these claims boil down to this: once government transfers and tax cuts are included in income calculations, magically, middle class household income soar.
In other words, once we count entitlements and social welfare from the federal government, household income isn't so bad after all. Baldly stated: the middle class clings to "middle class" status thanks to payments from the government.
If you call that progress, you are delusional.
And how about the greatest example of progress, China? The cheerleaders never mention the real drivers of China's boom:
1. An unparalleled expansion of debt and mal-investment.
2. The despoliation of China's air, water and soil--environmental damage that will require hundreds of billions of dollars of remediation and clean-up.
3. The exploitation of tens of millions of poorly paid workers who face life-threatening chronic diseases as a result of the poisoning of their nation and the introduction of progress in the form of a diabesity-drenched Western diet.
If you call that progress, you are delusional.
Correspondent Mark G. summed up the reality of this era in one sentence:
I think historians and economists a century from now will regard this era as one of stagnation and steady decline rather than unalloyed progress.
If we call stagnation progress, what have we accomplished?
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I think a better word is depression. But hey, that's just me ignoring the propaganda and looking at those pesky facts.
"Stagflation," a word from the 1970s, is due for a return.
Thankfully, my life and local economy are neither depressed nor stagnant.
As I look around me, sadly, I do see much addiction and entitlement.
This era might be described as 3-D: debt, dope, and dependence.
@HH
you once recommended a water well hand pump.
was it the simple pump?
TIA
Yes. Mine has been in service without a problem since circa 2008.
Yes, some people will have access to the resources required to maintain a decent standard of living. most will not...
same as it ever was...
https://www.lehmans.com/ has hand pumps.....
"Thankfully, my life and local economy are neither depressed nor stagnant."
Likewise, but the average human is an idiot and has been whistling past the graveyard for quite some time...
Similar to going bankrupt, the laws of Nature and physics will begin to re-assert themselves, slowly at first, then all of a sudden...
Unfortunately the 3D you cite stabs at the heart of the one thing humanity wants above all else, Freedom. This is the only thing that unites all people and the founding fathers were keenly aware of this.
When the USA finally falls, this concept will be wiped away on the planet and we will return to tyranny and slavery which was the norm for thousands of years.
Miffed
So, life really isn't better driving a leased car, while stoned, to Wal-Mart to piss away one's SNAP balance on frozen pizzas and to buy the latest Modern Warfare game on mom's credit card?
What else is there to do when you're in your 50's, paying alimony, can't find a job, fell off the unemployment list, and are living in your mom's basement with your own kids? You gotta find something to pass the time, and those games cross generational barriers. Plus, beer. So THERE.
Its not? Who says so?
"When the USA Falls..." Nahhh never happen...we commoners have way too many guns & too much ammo.
Unfortunately, this is not "the 70's", not be a long shot.
The word that defines this era is debt. US debt and unfunded liabilities went up from $60 trillion in 2003 to $210 trillion in 2014 - that's up $150 trillion in 11 years (up $1,300,000 per taxpayer in only 11 years). US did not produce $150 trillion worth of goods and services in those 11 years.
Exponential debt growth defines this era. And infinite spying.
In 2003, just a little more than a decade ago, the fiscal gap was $60 trillion. But by last year it had catapulted to $210 trillion.
http://www.brookings.edu/research/opinions/2015/04/08-federal-debt-worse...
https://www.youtube.com/watch?v=E5VMZqgVzRo
Debt/GDP doesn't matter. It's debt/revenue. We're third worst in the world behind Japan and Greece.
The Debt/Revenue ratio is related to the Debt/GDP ratio because debt influences the GDP which affects Revenue. You cannot actually have proper a Debt/Revenue ratio (as the numbers belong to different categories), what you can have though is a Debt Service Obligation/Revenue ratio...
You need to look at a Debt/Profits to get the true picture.
Revenues cannot pay back debt. Only profits can.
But but but.......
HNIC told me the unemployment rate was 5.3%!?!?!?!?!?!?!?!
WHAT THE FUCK GIVES?
Surely you're referring to the HMIC?
Crippling debt has given way to entropy.
Make yer damn mind up, "debt" or "spying?"
Stagflation. Shrinkflation. Either or. Stagnation is way too kind.
Socialism works!
It sure does - for the 1%.
Kleptocronystagflationnation.
Kleptofecalmaniacs.
What's worse, we've doubled our debt to get that stagnation! So really, we're worse off than if we had done nothing but clean out the chicken coop!
Calamity is certainty. Plan and prepare accordingly!
complete failure of visionary, 'disruptive' leadership... why the DC bubble is just that, a bubble.
If we call stagnation progress, what have we accomplished?
I believe the term used was "Change".
I would say that what really defines this era is poor intellect and/or dishonest intellect.
Yeah, but don't underestimate the power of dumbness.
Or the abilitiy of "Dead People" to vote themselves free money from the Treasury...with apologies to Alexander Fraser Tytler, Lord Woodhouselee
I hear the government will quit issuing tax returns, instead participation trophies.
when this blocked colon blows, i don't want to be around
Agreed.
Although I will still want to see -- prolly from a great distance -- the monkey trying to put the plug back in.
Affirmative Action Barry Soetoro promised change! And things changed—for the worse! Barry's a willing, evil puppet more interested in his 'wife' Michael's black cigar than actually governing for the greater good. Well, what else would do you expect from Affirmative Action?
We have progressed to the Zero Sum End Game with Secular Stagnation, and that is progressive IMHO. We have accomplished a resounding defeat of the Global Oligarchs, and have defeated the Wolfowitz Doctrine, and all plans of the Council on Foreign Relations. That is real progress, and accomplishment, given their overarching plans to place us all in indentured servitude to the Globalists.
Stagnant ponds produce the biggest mosquitoes.
Stagnation?
No.
Central Planning & Control?
Yes.
The fruits of communism.
...the fruits of democracy...
fify
The United States now functions much like a progressive slot machine. At first, you earn a living. But then the cost of living goes up constantly, and you get to keep less and less of your earnings.
Even if you're lucky enough to have a job, you will be stuck with:
As your wages stagnate and your expenses double or triple, you will find that you're simply working to pay bills, So, if you
don't own a home, you won't be able to afford one anytime soon. And, if you have children, you probably won't be able to
afford their college tuition.
But, don't worry, both political parties will trot out their demagogues to spew their divisive nonsense as election season approaches.
These psychopaths in suits will tell you to blame the poor and the illegal immigrants.
Politicians from both parties will attempt to create race wars. They'll tell you that you should worry about abortion and the open borders. They'll wave the flag as they recycle the same old speeches about everyone needing a flat tax and an end to entitlements.
Not one politician will mention the bankers who were never jailed and the manufacturing sector that was outsourced to other countries.
Election season will be bread and circuses as the bankers laugh at us behind the scenes and continue to rob ordinary American blind.
I completely agree, but you missed the punchline.....before the "election," a disaster will take place on American soil and our nubian president in black-face will use executive order to impose "temporary" Marshall Law, hence postponing the "election," indefinately.Then all the current want-to-be leaders can argue over how best to "save" America while the ensuing economic and banking collapse brings Americans at each others throats in the streets. Election? There will be no election.
That's what I was thinking. Stagflation seems more accurate. You not only have low growth but you have inflation (home prices, food, stock market, etc,...). The thing is those central bankers wanted the inflation to get growth but the growth side never showed up. It was a risky bet, because backing out of this environment is, how do you say, difficult.
Entropy is probably a much more accurate word.
The Dictioary.com definition of entropy is:
4. a doctrine of inevitable social decline and degeneration
The core problem is the LARGE population of incompetent and failed humans, ie proletariat biogarbage, who are subsidized by socialism and proletariat entitlementism in return for their votes.
In the USA, government spending on entitlement programs for the proletariat cancer is more than 60% of all government spending - it is MUCH HIGHER in Europe.
That means that MORE THAN 60% of the society/country productive capacity is being confiscated, diverted, redistributed and wasted on feeding and growing this HUGE proletariat cancer tumor, so that it will be EVEN BIGGER in the future.
Eliminate the tumor and terminate the confiscation and diversion of earnings away from the productive to the unproductive that is feeding the cancer tumor, and the healthy part of the society/country will prosper.
If you now invest in good goldstocks you have 1000Baggers at a Goldprice of 5000$.http://gebert-trade.weebly.com/1000-bagger-potential.html
"How many of you can honestly claim that the services you get from government or global corporations are better now than it was in 2000, or 1985?"
Benefits are overwhelmingly negative.
Stagnation? LOL
Try iniquitous.
Zion is a scheme, not an ethnicity.
Stagnation is normal for you humans, but most of you don't live more than seven or eight decades, so your memories are far too short.
I think historians and economists a century from now will regard this era as one of stagnation and steady decline rather than unalloyed progress.
A century from now there won't be any humans on the planet. That is the most delusional of all the statements in the article.
I think historians and economists a century from now will regard this era as one of stagnation and steady decline rather than unalloyed progress.
A century from now there won't be any humans on the planet. That is the most delusional of all the statements in the article.