biffvernon wrote:It's no good making such judgements when the process is too far under way. One has to look at the causes of the war, which take one back to the Germany in the 20s and thus to the First World War and it's causes.
Similarly, it's worth looking at the underlying causes of this retail meltdown. Mainly it's the banks loading debt onto clueless people through excessive mortgages, and consumer credit, hiding no growth in income - and that's been going on for twenty years.
Add to this mix unregulated WE ARE DODGY banks holdiing governments to ransom through ratings agencies - the very same ones that didn't stop the same banks now attack the taxpayers that saved them, in turn leading to hundreds of thousands of former pleblic sector workers no longer having or spending their wages. While the few businesses wanting to borrow to expand, or merely survive, can't, because the banks know conditions are going to get far worse.
And a current government that delights in driving the disabled young and poor to work for subsistence, in those corporate shops that are still trading their mostly tat wares. Then there's shop rental costs, and internet based warehouse competition that avoids corporation tax. And all this before peak oil really kicks in, though diesel nudging £1.50 a litre isn't helping much.
This is a debt deflation depression with worse to come. I suppose there's some lowlifes in an 'investment' bank who have shorted the entire high street. They'll already be sitting on squillions, eh.
Been reading the Forum regulalrly for a year or so. Fascinated by the subject of peak oil, no-growth economy and the non-industrial future. Hope to contribute some more...
Edit: found this: