ECONOMICS: ‘The Great Reject’?

http://feedproxy.google.com/~r/zerohedge/feed/~3/0jJpXtjZ4no/atlas-shrugging-forget-great-reset-here-comes-great-reject

Atlas Is Shrugging: Forget ‘The Great Reset’, Here Comes ‘The Great Reject’
Zero Hedge by Tyler Durden

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It won’t work, and it brings to mind a particularly vivid example I once heard about a balloon disaster that still makes me cringe when I think of it:

A group of people were embarking on a balloon ride and as they were just a foot or two off the ground, the burner erupted into flames. The balloon pilot realized immediately what this meant and he leapt from the gondola which was still only a few feet off the ground.

One or two of the passengers were quick witted enough to realize what this meant and followed him. This set off a feedback loop: as the fire expanded, its hot air forcing the balloon higher, combined with the weight reductions as the first few people bailed out, the situation very quickly escalated past a point of no return.

The balloon had accelerated very rapidly to heights from which it was no longer possible to leap safely. The unfortunates who had hesitated and were trapped in a gondola being propelled higher by a fireball, to their inevitable doom.

That’s what our entire situation feels like today. The balloon is still hanging a foot or so above the ground, the canopy is on fire, and the people who have figured out what this means are bailing out while they can and in doing so they are accelerating the ultimate burn-then-crash of the entire system.

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Economics is called the “dismal science” for a very good reason.

It’s based on the idea that ALL resources are scarce and there are “laws” that describe how resources are used

It’s “dismal” because rarely are there enough resources to satisfy everyone’s “wants”.  (Notice I didn’t say “needs” because that’s a much lower standard. (Think what passes for a “good life” in a Third World country and you’ll have my idea of “needs” versus “wants”.)

In today’s economic climate, the “wants” have outstripped our Gooferment’s ability to supply the resources need to satisfy them. (Note the tax  & borrow to spend  on “wants”.)

So like the balloon example above, get off before the disaster.

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