Debt Rattle July 2 2016
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Home › Forums › The Automatic Earth Forum › Debt Rattle July 2 2016
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[See the full post at: Debt Rattle July 2 2016]
Re the comments on the Japanese economy from yesterday; this is an enormous, and once again unprecedented factor that analysts really ignore- because they don’t know what to do with it: 25% of Japanese citizens are now over the age of 65. And that demographic trend is currently continuing, and intensifying.
https://www3.nhk.or.jp/nhkworld/en/news/20160630_11/
There are lots of “gee-whiz” comments about that in the world forum, and “gosh, somebody should do something” – but really zero in the way of ideas on what to do, and zero action as well. “Economics” as a field of inquiry simply has nothing to offer for this situation. Nor do any others, but people continue to expect Economics to explain population wealth and trends, all history to the contrary notwithstanding.
We’re just stumbling into our future- and will keep on stumbling, as far as anyone can predict.
IM said “It’s worrisome to me that the right seems to be the only side asking the right questions these days.” I sort of agree but as often as not it’s more they are asking the wrong questions for the wrong reasons but at least they are asking. Challenging the neoliberal and neocon consensus. Often the flood of refugees from Syria and Libya into Europe questions are being raised on racist grounds when all the right questions should be about how NATO and the US have eagerly helped destabilize and destroy those countries leading to the flood.
At any rate it may be worrying but I hope not surprising. Since seemingly forever I have figured that the troubles and dislocations anticipated by AE and others on all fronts, economic, social, cultural and environmental will bring the right, or whatever you call Trumpism, to the fore. It should at least be implicit in AE’s outlook that the political response to the challenges, as Nicole calls them going forward, will be causal in them only getting worse. In fact I forsee social/political reaction as the first major threat many in the West will see and suffer from. While the root causes of course will be kept in the background. Those being energy related, environmental change and of course debt.
So I would not have said “worrying” and certainly not surprising, just sadly or inevitably perhaps.
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