As society begins to feel the loss, because it is always handed down to the so called “middle class” the stability of the social contract begins to falter.Īdding to this issue is the fact that our current system is built on perpetual growth. Additionally for every loser bailed out, 20 other people still lose. Bailing out losers only fills holes, it doesn’t replace what is lost and you can only fill so many holes before the system breaks. Put pressure on it though and unlike a true “fiat currency” a debt backed currency begins an implosion cycle.Īs debt is defaulted on, money disappears. This system flawed though it is, actually works quite well as long as the social contract that gives our money value remains stable. The governments of the world have created a monetary system where debt is money and all money is debt. The problem while extremely complex can still be summarized as follows. This is largely a socioeconomic issue and it is also indeed a resources issue. No the real long slow emergency is much more complicated. Well friends, peak oil may be real but there will be no peaking anytime in the next few decades.
The “long slow emergency” is something often discussed in regard to peak oil. The following are the original show notes from that episode. Today’s episode was originally, Episode-1552- The Long Slow Socioeconomic Emergency and originally aired on April. Today is an episode of TSP Rewind, commercial free versions of past podcast episodes.
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