by Pops » Tue 12 Jun 2012, 11:07:54
Revi I think many of us have gone over the edge. Stuart Staniford at Early Warning has talked in the past about how much more resilient our modern society is than those of the past due to our huge surpluses, for example how "easily" we recover from natural disasters like Katrina (I think that was an example) and how this surplus will ease us through depletion and transition.
The problem is that our surpluses (both physical and imaginary like capital gains) are nowadays immediately turned into 100% imaginary surpluses (capital) which can disappear quite fast. Take for example the shenanigans by a few that led quite a few to see their "surpluses" disappear virtually overnight:
Crisis Wiped Out 18 Years of Household-Wealth GainsGranted, much of the 40% lost was never really gained, IOW the "value" was only valuable if you cashed out ( ;^) ). However, that doesn't negate the fact that lots of people threw real "surplus" down a rabbit hole that closed up in a blink.
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The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)