"There is nothing fear but fear itself." was what Roosevelt told the American people in 37 when it seem that the Great Depression would never end. Perhaps it is time for that speech to be made again.
Yesterday I heard one of the economic pros used for sound bits say that we are not so much in a double dip recession as we are in a global depression. Some how no one seem to latch onto it, but rather they ignored it intentionally or not. But it did start me to thinking about it.
We have rioting in London, GB as well as protesting in other European countries that are economically driven. A case of the have not vs the haves.
Economic growth in the world have stagnated. The question you have to ask is why?
Perhaps if I might put forward is that any economic growth that is based on the continual expansion of product sales is unsustainable and currently that is how business is currently runs. Sooner or later you will reach a saturation point and it becomes a matter of replacement. Even with designed obsolete or limited life Span of a product there is only so many widgets needed before you fulfill that need.
Combined that with high unemployment, lower paying job, governments unwilling to act aggressively, with big business and the uber-rich unwilling to act responsibly and you now have the ingredients for a economic melt down.
Unfortunately history indicates we tend to be self-destructive and the poor and middle class will pay for what happens either with the destruction of their traditional safety nets or draconian acts and laws that cause further pain and hardship. That is until the people rise up and act. Or do we dare forget the French revolution or the Italian revolution of the mid 19th century.
Then again the do seem to be acceptable to lies and mis-information. Only time will tell.