so yes. this is going well

Bailout Failed (Again) - the thing is, I just stare at this and think, wow. Wow, wow, wow.

Okay. Officially. For you who might know this stuff. How screwed are we? On a scale from gen to lubeless multi-character hentai?

I'm getting more coffee.

Comments

[ratcreature]

This all sucks so much.

And you know, in broader terms I'm still more worried about global warming and environmental collapse than the finances, because financial slumps are things that humans can manage and repair whereas we aren't good enough to do large-scale terraforming yet. And what good will money do if our ecosystem collapses? But this is just going to make this whole "growth, growth, growth, we need growth at all costs" brainwashing worse, because after a crash everyone wants an upcycle to recover so badly, only where is it going to come from? In the past it always more or less worked to expand and plunder even more natural resources to fuel growth, and we are still clinging to that, only now there's billions of people more and so much less resources to begin with. So this will just worsen the ecological disaster unless systemic change happens.

OTOH it's not like I wish the economy or even just the financial markets to collapse. Because for me and my family and people I know it would be awful. And it's like that for everyone. Everyone wants to get by right now and in the nearish future, and have themselves and their families be okay, but the decisions that may be rational for that (or at least known to have worked maybe in the past) are what's making everything so much worse even just five decades from now. I mean, am I really supposed to wish for more growth even knowing that the carbon emissions since 2000 have surpassed even the worst projections already? Obviously the thing to want would be a "different" growth somehow, or a different model, but nobody really knows for sure the details to make that a confident thing. Sure, small improvements (like "green" energy technology and such stuff), but not the more systemic parts that need to change.

And I think most people (myself definitely included) hate radical, insecure change on a gut level, especially if you can't control or predict how it might go, unless your immediate situation is completely frelled right now, whereas if the status quo is still manageable you cling to that, even if it kind of sucks, or try to make small changes, even while rationally you see clinging will make the future worse, rather than have huge uncertainty and risk what you still have. It the old saying of rather having a sparrow in your hand than a pigeon on the roof (actually I don't know whether that is an English saying too, but the meaning is obvious).