The Great Reversal

BRA

Robert Samuelson on “Peak Growth” which has recently gained wider currency among mainstream economists:

Note: BTW, over a decade ago now, I started wondering what the future would look like if changing racial demographics, cultural collapse, polarized electorates, Peak Oil, global aging, and soaring personal and government debt were to converge simultaneously.

“WASHINGTON — What we are witnessing in Europe — and what may loom for the United States — is the exhaustion of the modern social order. Since the early 1800s, industrial societies rested on a marriage of economic growth and political stability. Economic progress improved people’s lives and anchored their loyalty to the state. Wars, depressions, revolutions and class conflicts interrupted the cycle. But over time, prosperity fostered stable democracies in the United States, Europe and parts of Asia. The present economic crisis might reverse this virtuous process. Slower economic expansion would feed political instability, and vice versa. This would be a historic and ominous break from the past.

It’s this specter that hovers over the U.S. election and the entire developed world, though it need not come true. Modern economies — especially the American — possess great recuperative powers. Democratic traditions are strong. Still, a reversal can’t be excluded, because most advanced countries face slower economic growth, even if (hardly certain) they successfully navigate the fallout of the global financial crisis. Semi-stagnant societies can’t meet all expectations for jobs, higher wages and government benefits. Political institutions then lose legitimacy. Europe could foretell this dismal spiral.”

About Hunter Wallace 10083 Articles
Founder and Editor-in-Chief of Occidental Dissent

2 Comments

  1. Essentially, they killed the proverbial goose that laid the golden egg, and now they are waking up to the notion that there might be something wrong in the cultural Marxist land of unicorns and Skittles for not just the geese they are shunting aside but also the swarthy parasites they are replacing them with? Hey, who could have imagined that the solution to too much debt isn’t more debt, or the solution to too many parasites is more of them, or the solution to too few whites is fewer of them, etc. etcetera …? Wow, are our overlords beginning to question the world they largely helped to create without asking the founding stock Americans about how they felt about it? Maybe there is some silver lining to our futures after all, but don’t expect Eastern “progressive” Jewish news reporters/propaganda specialists to point out the answer to the problems they helped to push along.

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