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Are we headed for Savage Times?

Posted by keelynet on March 13, 2009

Often in the news these days are gloomy predictions and there is every probability that some of them are right on the money. People will I think revert to savagery when we run out of food, services, water, jobs, etc.. Here is one alarming prediction that I hope doesn’t come to pass…its like that idiot preacher predicting fires that will destroy cities…not good.

“Harvard economic historian Niall Ferguson predicts prolonged financial hardship, even civil war, before the ‘Great Recession’ ends.

Policy makers and forecasters who see a recovery next year are probably lying to boost public confidence, said Harvard author and financial crisis guru Niall Ferguson. And the crisis will eventually provoke political conflict, albeit not on the scale of a world war, but violent all the same.

Niall Ferguson: As you know, Chimerica – the fusion of China and America – is one of my big ideas. It’s really the key to how the global financial system works, and has been now for about a decade. At the end of The Ascent of Money, I speculate about whether or not that relationship will survive.

If it breaks down, then all bets are off, for the U.S. and indeed for Asia. I think that’s really the key point. Both sides stand to lose from a breakdown of Chimerica, which is why both sides are affirming a commitment to it.” “One possibility is that policy makers are lying in order to encourage people and prevent depression from become a self-fulfilling psychological conditions.

That’s why it’s called a depression … Maybe they don’t really believe this, but they’re saying it in order to cheer people up, and if they’re sufficiently consistent, perhaps people will start to believe it, and then it will magically happen.” “The other way of looking at that is to say every time a politician uses a word like ‘catastrophe’ or ‘depression’ to pressurize legislators into passing a stimulus package, for example, the signal goes out to the public that this is bad. And it gets worse.

That’s one of the interesting things that both President Bush and President Obama have done. Bush used that wonderful phrase, “this sucker’s going down.” Obama talks about catastrophe at the critical moment when he wanted Congress to pass the package.” – Source

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One Response to “Are we headed for Savage Times?”

  1. The best thing is always to “act now”, and to “speculate or predict less”. As long as the positive predicts prompt us to act now, it’s ok. Whether it’s time for ‘Chimerica’ (China + America) or ‘Imerica’ (India + America), time alone may reveal.

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