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Keep on Spending

C-Realm listener HanZiBoi left a comment on the PodOMatic page for C-Realm Podcast episode 140: The Growth Imperative in which he wrote:
Hi KMO

Thanks for another excellent interview with the brilliant Thomas Homer-Dixon. What a tragedy that the mainstream media has NO TIME for guys like him even while they bend over backwards to cover liars like Ben Bernanke and Hank Paulson – who assured everyone that the economic fundamentals were sound right up to the end.


Hans also directed me to a recent blog post of his. Here's a sample:
Yes, despite Herculean efforts to consume faster than ever before, American shoppers just couldn't keep pace with what was needed for a "healthy" economy. Thanks to unprecedented levels of productivity, the output of McMansions and Escalades and ARMs overshot the abilities of our seemingly-insatiable markets to absorb them. Although antiquated concepts like "frugality" and "modesty" and "thrift" are now largely expunged from our nation's collective consciousness (having been incontrovertibly discredited by modern economic theory), nevertheless they still echo in the craniums of a few aging contrarians. We must not let the paranoid ravings of these heretics distract us from grasping the implications of the real catastrophe: in practice if not in spirit, Americans have fallen behind in the never-ending race to consume more than enough.


link: http://entropicjournal.blogspot.com/2009/02/end-of-consumption.html

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