Global crash — Decades of dystopian suffering and injustice

[Swammerdami]

I just started this YouTube with Nouriel Roubini, aka Doctor Doom.

I've just clicked on it! We can watch it together!! AFAIK I've never even heard Roubini's voice. This very renowned expert (professor, advisor, author) Foresaw the 2008 crisis. etc. His latest book is subtitled Ten Megatrends [I'll get one of the Mods to Edit here to stick in the Ten Trends.] which together make it more likely than not that we are heading for a global economic crash. stagnant growth, debt crises, and high inflation that will cause decades of dystopian suffering and injustice !!!
But the good news is we can avoid it. If we come to our senses.

I have NOT heard Mr. Roubini's opinions. I'll clock On right after Post Thread. Let's listen together right now!

What makes me so eager is that I already knew this — he's preaching to the converted. (Though I was especially unclear on many or most of the megatrends and was far from sure of any details.

Will we "come to our senses" and avoid the impending crash?

With stupidism and angryism rampant in the world's top country
will my native pessimism prove correct?

 

[DBT]

I wouldn't bank on us 'coming to our senses' in a hurry. It's just a question of how bad the crunch gets.

 

[Jimmy Higgins]

I find it funny that we had a fundamental collapse of the banking system globally in 2008. It was "merely" a recession because the Governments didn't repeat their mistakes of the Great Depression. Things weren't just bad, we were on the verged of an economic freeze where money was simply going to become locked in place because none of the banks believed any of the other banks were solvent. And they were right to have doubts.

The Governments stepped in, did things that needed to be done to prevent a cataclysmic economic implosion. It sucked, but it was managed (reacted to?) well enough to keep us going.

Our economies do have issues. We've gotten rid of too much redundancy across the board. The ability of monopolies to manage growth has become problematic. The pandemic led to the retirement of a lot of brain power. And management is so proud of themselves of using less to get more post the '08 crash, they forgot how to manage well. But, at what point in our history, except after a massive war and during the Internet boom, have things been easy peasy?

 

[DBT]

The next crisis may involve climate change and supply, making it far more serious than a financial and social issue.