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Just in case you didn’t know that I have been writing about economics for quite a while already, here is an old blog of mine analyzing the massive economic manipulations that occured between 2005 and 2009! https://notodebtslavery.blogspot.com/
The 2020s are set to be a decade of dramatic economic and social upheaval, reversing many of the trends of the past 40 years, according to one of the world’s largest banks. (NOV 2019)
“We enter the next decade with interest rates at 5,000-year lows, the largest asset bubble in history, a planet that is heating up, and a deflationary profile of debt, disruption and demographics” – the report warns.
EARTH CUSTODIANS: we really wonder how they were able to calculate the “interest rate trend” that far back. Yet we do believe that and it will be soon time to get prepared to help our fellows humans instead of running for covers . This time will be different and we ought to respond differently — because the boom will never come back again . The boom-bust paradigm is dying for good!
“We will end it with nearly 1 billion people added to the world, a rapidly ageing population, up to 800 million people facing the threat of job automation and the environment on the brink of catastrophic change.”
Remember what we said in our blog 3 days ago? These 2 lines really validate our 5 year forecast. That study assessing that only 20% of Americans will drive a car in 10 in 15 years can only be the result of an economic breakdown amplified by automation.
People who support RBE must see this as an opportunity instead. There is nothing to fear.
As these problems mount, the bank’s investment strategists say many long-established trends will peak, before reversing.
Of course the so-called strategists make no mention about the large quantitative easings sicnce 2008, which is why we are where we are now. “Peak Debt” and “Fictive Wealth” were really what globalization was all about!
“The 1981-2016 era of unchecked flow of goods, people and capital is coming to an end, catalysed by the widespread recognition that while globalisation has meant lower consumer prices, it has also meant slower growth, precarious employment and social disruption,” BAML’s analysts write.
The cheapness of consumerism and anything-go-competition obviously have a tremendous price tag – but what for in the end? Isn’t it incredible that the experts want the public to believe that “slower growth” is the cluprit while the number of billionaires is skyrocketing and Nature being pillaged as if there was no tomorrow?
Well tomorrow is around the corner now!
With globalisation and access to cheap labour forces in developing countries having been a key driver of lower consumer price rises over the past few decades, BAML warns the shift back towards localism will have big financial consequences.
The Law of Rhythm is unbeatable – now that the globalization has failed, localism is gaining more traction again – But such backs and forths are clearly a waste of energy, because to end the catch 22 all what is needed is to DEGROW the economy and implement the free access mode as opposed to direct ownership — and of course teaching people “why” there is no other way to exit our decaying maze.
While believing that big banks will lead the way toward a victory for the people is ludicrous, the very last 2 lines of this article definitely stimulate our hope for a change and should really motivate us to spread the word, as some economists are beginning to acknowledge self-defeat and we believe that their number will continue to increase.
In some further bad news for retailers, the analysts are also tipping “peak stuff”, as “conspicuous consumption” ends in developed economies and the sharing and circular economies become more popular.
EC : If we ever could put Gorbachev’s wise words into action a money-free system is the only model possible
Mikhail Gorbachev on the need for urgent change to save the planet (2012)
Last but not least, we have not learned how to live with globalization. We are all interconnected but we keep acting as though we are completely autonomous… We need this new model. We must consolidate all our resources to create such a new model. And we need to finance research into all these problems. We must consolidate all the resources that human kind has to answer these questions.”