Quote:The standard Economists rule is if the Economy starts to go into Decline, then governments should implement the usual Keynesian stimulus approach & Central Banks make funds cheaper to borrow, all of which sees Business & Consumers enticed back into the market, Demand spikes & the Economy again starts to pick up.
Straight from the textbook.
Quote:However, that will & can not happen on this occasion, due to once in history Demographic, Energy, Debt & Climate Change factors and those factors will also ensure that there is no resurgence in other, none mining related industries!!!
There is always something. If they are the biggest problems you face then consider yourself lucky.
Quote:So then, what are the 7 Pillars, what is the theory & who is the Economist?
Good question Perce. I was waiting for someone to ask. The seven pillars are sheep farming, state border duties, deforestation, whaling, stealing wages from aborigines, carbon taxation and the Queen.
The system was designed by our first PM, Harold Holt. Prior to that people used to bury their money in the back yard and dig it up the next day in the hope it had turned into food, or a house. The trick to the new system was arranging the seven pillars so that all of the quarrelsome pairs are separated, which is a difficult task if you only have one queen. They solved this problem by using metaphorical pillars rather than real ones. This caused a mass debate at the time. People said, how can an economy stand on pillars that don't actually exist? Well let me tell you, history has proven the naysayers wrong. 'Nay!' it says, right back at them.
Quote:So you are saying nothing will happen to the world economy/financial system when the US collapses?
Something will happen, but it won't be the end of the world. The US will not collapse completely. It won't get much lower than it is now. We are already trending away from trade with the US. They only make up a few percent of the world population, and everyone else is getting rich much quicker.
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