Oppose the bank bailout!

[Barking_Mad]

At every stage the media and its so called 'experts' have been behind the curve in reporting what is going on. Independent bloggers and people free from constraint/naivety of the MSM have been warning things are far more serious and have predicted events accurately, despite the neigh saying of others. It was not long since that the question in the MSM was, "Will there be a recession?" From there it went to, "There will be a recession, but not a long one." etc.. etc..

In short, Chomsky's model of the media works for this subject as it does for any other.

Im worried after reading their latest views about what is next, as it's more than recession, but a full blown economic collapse of the system.

 

[Fruitloop]

Interesting stuff.

I agree that the mainstream media have been reacting as expected for the period of the crisis, and note that the question of pensions etc has come up already. There's also the rather alarming case of that South Korean blogger who has been charged for correctly predicting the collapse of the won, and the wider economic problems - punished for being right!

 

[SpookyFrank]

I doubt there is one clear answer as to what we as individuals should do with any cash we have. We dont know exactly what we will live through, even if we can predict what governments will do, we dont know how the masses are going to take things. When I started to worry years ago, I just decided to get psychologically prepared. I have reduced my expectations for future quality of life, and have gotten way past personal bitterness about it. I am ready to accept humanities fate, to return to earth with a bump. I just hope enough humans will come to terms with things and put their best future interests first, rather than allow their sense of injustice and loss to lead them down a fruitless path trying to return to an age thats over.

The mechanisms that govern human cooperation will need to evolve, and so will the people. In some sense this means there is even some reality to the governments 'rights and responsibilities' rhetoric, though that stuff is currently discredited and smelly because the current system does not handle people with respect. Well, now its time for us to get rid of some of the old compromises that no longer work, but in return we will have to accept others, or face the prospect of a race to the bottom.

Greed crunch required. Peak individuality and freedom a possible consequence.

Well put. This may well be our best ever opportunity to dispose of all the pointless chaff that surrounds our lives and start sorting out how to actually live them. I'm not afraid, I'm optimistic.

But still very angry.

And, to be honest, suffering from a rather morbid sense of glee.

And kind of sad for the people who won't be as willing as I am to abandon consumerism.

But at least things will change one way or another, if there's one thing I can't stand it's an immovable status quo.

 

[kyser_soze]

immovable status quo.

No such thing in human relations, you just have to look over a long enough period of time.

 

[goebfwai]

There have been a few posts about human behaviour in a crisis (and this economic crisis). I am reading a book by Amanda Ripley just now called 'The Unthinkable: Who survives when disaster strikes and why'. Borrow it from your community library or if they don't have one recommend they get a copy in stock (that's a much better use of sharing resources than several dozen different people buying an individual copy!)

Black Swan author Taleb describes it as a "must read".

While it's not about economics, the information about how people react in disasters and a crisis - panic, inertia, over-reaction, fear paralysis - and how it relates to evolution and our ancient animal instincts is very instructive. What you can learn from the behaviour of the survivors and those who didn't survive is very educational and useful in the current situation; I'm amazed at the core similarities the global economic crisis has to disasters and how people behave: abruptly changed circumstances and environment, up becomes down, old rules and familiar certainties rapidly in flux.

Under-reaction, can be just as dangerous when it comes to survival as over-panic, so finding the right balance is crucial.

The key lessons I would extrapolate from the book are stay level-headed, don't panic, think strategically, be pro-active, think ahead, try and stay positive, show sound leadership.

It's a book thats very 'of the moment'.

And remember this is just a global economic collapse, not a life-threatening disaster. It's not the end of the world. Whatever the economic future holds - the world of commerce, consumerism, finance etc - the sun will continue to rise and fall, for aeons hence!

 

[elbows]

And remember this is just a global economic collapse, not a life-threatening disaster. It's not the end of the world. Whatever the economic future holds - the world of commerce, consumerism, finance etc - the sun will continue to rise and fall, for aeons hence!

I need more than just the sun, I need food. Its a life-threatening disaster in the making.

 

[goebfwai]

There are a lot of reasons to despair and be despondent, but to succomb to it would mean your ability to get through the recession woud be mitigated.