Can you see it coming? Unbridled consumption: 2008/9: The period when the Mega Bubble Burst

“The outstanding fact in mass civilization as it exists in America and Western Europe to-day is that it moves with confidence in only one direction. The workers, after their escape from the industrial slavery of the last century, have only one plan for the future upon which they can unite, a greater share in material benefits. The possessors of capital have only one program upon which they agree, a further exploitation of material resources, for the greater comfort of the community and themselves. The professional classes have only one professional instinct in common, to discover new methods by which man's comfort may be made secure. “ Henry Seidel Canby 1926

I do not think we will ever escape from the appalling squirrel-cage of economic confusion in which we have been madly turning for the last three centuries – the cage in which we landed ourselves by acquiescing in a social system based upon Envy and Avarice. A society in which consumption has to be artificially stimulated in order to keep production going is a society founded on trash and waste and such a society is a house built upon sand. I do not think we will ever escape from the appalling squirrel-cage of economic confusion in which we have been madly turning for the last three centuries – the cage in which we landed ourselves by acquiescing in a social system based upon Envy and Avarice. A society in which consumption has to be artificially stimulated in order to keep production going is a society founded on trash and waste and such a society is a house built upon sand. Dorothy Sayers 1942

Even more Prophetic When the war is over, are we likely, and do we want to keep this attitude to work and the results of that work? Or are we prepared to go back to our old habits of thought? Because I believe that our answer to this question determines the whole economic future of society. At the moment we are not making this decision – its being made for us. When the war is over, are we likely, and do we want to keep this attitude to work and the results of that work? Or are we prepared to go back to our old habits of thought? Because I believe that our answer to this question determines the whole economic future of society. At the moment we are not making this decision – its being made for us.

The Production Machine

Production in WW II

Post WW II Production Machine

Skyrocketing Consumption Driven primarily by US Westward expansion, suburbia beginning in the early 1950s. General steady increase in US and European to “export goods to the world” (The “2 nd British Empire”) China emerges into global market starting in 2003 Earth remains finite

Result of Finite Earth Resource Scarcity:

Production vs. Scarcity Creates an unregulated futures market

Volatility and Collapse:

The New World Order May well be defined by a transition away from conspicuous consumption towards necessary consumption Only one mega bubble allowed per planet – but historically why allow do we let it happen anyway? The world is adjusting to a new baseline involving the production consumption dynamic