I’ve been way too busy with work, family, etc. to do much original thinking about current events, so I’m passing on interesting things I find on other blogs. In that vein, here’s a short piece by John Robb of Global Guerillas discussing how the ‘global depression’ scenario is becoming the most likely one in his thinking/modelling.
For my part, I’ve been reading and watching what President Obama and his economic team are proposing to do, and it seems very similar to what the last regime did. Keeping the global money game going by sticking it to taxpayers does little to reduce the mountain of debt we are accumulating… all it does is shift the burden away from the bastards that did much to facilitate this crisis in the first place. I’m starting to believe more in the line of thinking that the US may be screwed, but the rest of the world will be screwed even more than we are. There aren’t enough euros, pounds, yuan, gold, or any other financial instrument in the world to soak up all of the trillions of dollars floating around out there.
How this all will shake out is beyond me, but eventually there will have to be a global reset of one sort or another. Until that happens, it’ll be Groundhog Day redux… another month or two passes, and another round of bailouts is proposed… rinse and repeat.