alstry (35.76)

The Collapse Of The Industrial Age

July 02, 2010 – Comments (2)

First we built the Industrial Age with production......

Then we exported it around the world.....

In the end we sustained it with borrowing and consuming......

It was consumption that drove production and credit that drove consumption....

We consumed so much that we ended up borrowing over $55 trillion dollars to sustain this addiction....the ironly is the debt is now the basis of most of the value of our pension/retirement accounts.....

At the very end we became so addicted to consumption that we borrowed to service existing debt....our citizens borrowed, our businesses borrowed, our municipalities borrowed, and now even our pension funds are borrowing.....

UNTIL the bankers started cutting us off of credit.......and everything started to collapse as it was mathematically impossible to service the massive debt load without adding additional credit....

First housing crashed....

Then banking crashed....

And now finally government is crashing.......as we are only bailing out the Federal Government and a few select bankers....and servicing debt is now consuming more and more and there is less and less for goods and services......

Once government crashes....there will be nothing left to bail us out......production will come to a grinding halt and consuming will become very difficult.....until things get so bad that the only way we will be able to consume is fight for consumption......unless we restructure the system.