TomOver said:
Hey Jon, if I recall your other posts correctly, you've mentioned this pertaining to our monetary system, using Argentina as an imperfect reference point.
I'm not sure about the extent to which you think it's likely that the US dollar will lose most of its value, leading to the creation of a new US currency. But how much do you think this "winding down" you refer to is not just economic, but political also ?
For example, consider the concentration of economic power---ie, a few corporations dominating agriculture, finance, media, and so on---combined with the attacks on our political freedoms in the name of the 'War on Terror.'
And lastly, to what extent is this "winding down" ecologically driven --ie, peak oil, climate change, or water insecurity ? Thanks
Tom, regarding Argentina, yes - in a roundabout way. However, I was probably drawing overall comparisons between US economic follies and Argentina's economic mismanagement, debt burden, and printing of money to pay off debt, which heavily contributed to their default in 2002.
On a similar note of centralization, debt and subsequent economic collapse. My GF and I are living in Bangkok/ SE Asia right now, and have been here for the last month. We've been in some interesting conversations regarding the Asian financial crisis, which began here in Thailand. Though the root causes were quite different, the resulting moves to "restore economic confidence" at the point of collapse were similar to that of Argentina's moves.
For individuals in both of these places, which experienced collapse - these moves to "restore economic confidence" usually boil down to this - it becomes hard as hell to move your money to a safer place. If…… you can even gain access to your money.
I don't know if it's likely that the US dollar will lose most of its value given the dependencies that prop up its value in the first place. That said, it's safe to say there is a strong possibility that in our lifetime it will not be the world's defacto currency.
In terms of the creation of a new US currency all together? I seriously doubt it. That approach rarely works. If the dollar goes necessitating the creation of a new currency the global confidence in the US is dead and we'll take a lot of other countries down with us.
When I say things are winding down I mean that the time when you can be average is done. It's been done for a while, but its effects are just now catching up. This holds true for individuals (workers), companies, government, etc… Average from 10 years ago is below average today. Average today will be below average in 10 years. If you or these institutions aren't constantly innovating and evolving you're in trouble. Personally, that thought keeps me paranoid and driven to constantly build on my skills.
Regarding work or a "real job" (the theme of this thread). I certainly see this all as being connected.