Morgan Stanley: perfect storm in the making
Posted by yeslove, December 17th, 2007 | Print | Svenska
Telegraph:Morgan Stanley issues full US recession alert
Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a “perfect storm” for consumers as the housing slump spreads.
Paul Craig Roberts:Impending Destruction of the US Economy
The US dollar has lost 60% of its value during the current administration.
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If foreigners were to reduce their existing holdings of dollars, superpower America would instantly disappear
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We have arrived at the point where it is no longer bold to say that nothing now can be done. Unless the rest of the world decides to underwrite our economic rescue, the chips will fall where they may.
Moscow Times:Rosneft Considers The Ruble
Rosneft said it might switch crude sales to rubles from dollars as the U.S. currency weakens, following similar statements by domestic rivals Gazprom and LUKoil.
ISNA:Iran stops selling oil in U.S. dollars
Iran has completely stopped selling oil in U.S. dollars.
And some good news said ten years ago.
Bernard Lietaer:Beyond Greed and Scarcity
Money is like an iron ring we’ve put through our noses. We’ve forgotten that we designed it, and it’s now leading us around. I think it’s time to figure out where we want to go - in my opinion toward sustainability and community - and then design a money system that gets us there.
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I have come to the conclusion that greed and fear of scarcity are in fact being continuously created and amplified as a direct result of the kind of money we are using.
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A study done by The International Metalworkers Federation in Geneva predicts that within the next 30 years, 2 or 3 percent of the world’s population will be able to produce everything we need on the planet. Even if they’re off by a factor of 10, we’d still have a question of what 80 percent of humanity will do.
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My forecast is that local currencies will be a major tool for social design in the 21st century, if for no other reasons than employment.
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A key concept Jung uses is the archetype, which can be described as an emotional field that mobilizes people, individually or collectively, in a particular direction. Jung showed that whenever a particular archetype is repressed, two types of shadows emerge, which are polarities of each other.
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If there is a repression of an archetype on this scale and for this length of time, the shadows manifest in a powerful way in society. After 5,000 years, people will consider the corresponding shadow behaviors as “normal”.
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The question I have been asking is very simple: What are the shadows of the Great Mother archetype? I’m proposing that these shadows are greed and fear of scarcity.
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In 1929, the stock market crashed, but the gold standard held. The monetary system held. Here, we are dealing with something that’s more fundamental. The only precedent I know of is the Roman Empire collapse, which ended Roman currency. That was, of course, at a time when it took about a century and a half for the breakdown to spread through the empire; now it would take a few hours.
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The biggest issues that I believe humanity faces today are sustainability and the inequalities and breakdown in community, which create tensions that result in violence and wars. We can address both these issues with the same tool, by consciously creating currency systems that will enhance community and sustainability.
