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The Forum > Article Comments > The present crisis, a pattern? > Comments

The present crisis, a pattern? : Comments

By Wim Grommen, published 28/11/2012

World history proceeds in starts and jumps.

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Yes, a pattern.
The collection of more and more of our finite wealth in fewer and fewer hands, the ever widening gap between the haves and have nots!
All patterns that proceeded economic depressions.
The only lesson that history teaches is that nobody learns the lessons of history!
If this were not true, we would finally start to do things very differently!
We would finally use energy as the basis for valuing everything! It takes a precise amount of energy to produce gold, or iron or wheat or rice or coffee etc/etc/etc!
It takes 55 gals of water to produce a single egg, and over a thousand to produce a T bone. Similarly, when you take into account pasture requirements, vet products, transport and pasteurisation, it takes as much as a thousand gals to produce a pint of milk, which nonetheless, is cheaper on many supermarket shelves, than bottled water!
Shares, another anomaly, have had their real value quite grossly distorted, in order to maximise entirely artificial values.
And as before, over-valued over-leveraged assets, are the first to topple taking the unsophisticated investor with them.
We do need to do things very differently, or indeed, face our own extermination as a species.
If those essential changes add to our opportunities for wealth and job creation, that could hardly be viewed as a negative.
Whereas oceans rising and covering our coastal cities; and or, around 70% of our domestic economy, might well be!
We could do a lot worse than adopt cooperative capitalism, and shares that are valued solely for their fully franked dividend streams, with so-called capitals gains taxed out of existence.
Tax in this case, used simply to moderate extremely counter-productive behaviour.
We need to return both capital and energy to the people, as the peoples' property; and then use the huge social benefit that then would engender, to progress and profit entrepreneurial enterprise and cooperative endeavour.
If management teaches us just one thing, it teaches us there is always a better way!
Posted by Rhrosty, Wednesday, 28 November 2012 10:42:19 AM
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...If there is one lesson alone to be learned from the 1930's depression, it is that personal "debt" is a millstone around our collective necks!

...This imperative to survival is the old lesson to be re-learned. That lesson will be painful for many no doubt, especially when the property market bubble finally bursts, when Government stimulus dries up, reliance on a superficial service industry presents as the failure it is, and the reality that our manufacturing industries are, from any objective view, in Asian hands.

...All the above horror will be compounded by the one Australian political party still standing, the Liberals, with no opposition!
Posted by diver dan, Wednesday, 28 November 2012 9:41:54 PM
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