The Impending Economic Crisis: A Closer Look at the Fundamental Problems. It’s the accounting system, not the economy stupid.

grubstcomplaintsdepartment on December 25, 2023 at 10:42 am Title: The Impending Economic Crisis: A Closer Look at the Fundamental Problems. It’s the accounting system, not the economy stupid.

https://therealslog.com/2023/12/24/prague-shooter-ukraine-link-established/?c=1054060#comment-1054060

A comment on the Slog christmas day, if a week used to be a long time in politics the current ubiquity of stagnation is distorting measures of time with all the variety of a fairground hall of mirrors.

The last blog here was also posted to the slog but got fliltered time does not exist for the “PJB”

The Impending Economic Crisis: A Closer Look at the Fundamental Problems. It’s the accounting system, not the economy stupid.

Title: The Impending Economic Crisis: A Closer Look at the Fundamental Problems. It’s the accounting system, not the economy stupid.

In recent times, concerns about the state of the global economy have been mounting, with experts warning about the severity of the challenges we face. One such expert, Tim Morgan, has highlighted some critical issues that demand our attention. It is imperative to delve into these concerns and explore the underlying problems that may be driving our economy toward a precarious precipice.

Morgan’s assertion that for every dollar of “growth,” we are taking on several dollars of new liabilities raises a red flag about the sustainability of our economic model. This phenomenon points to a fundamental imbalance between growth and financial responsibility. It prompts us to question the quality and authenticity of the so-called growth that is being pursued.

Furthermore, the reliance on borrowing or money-printing as the proposed fixes for our economic woes is cause for serious reflection. These measures may provide temporary relief, but they do not address the root causes of our economic challenges. Instead, they can potentially exacerbate the existing problems, leading to a deeper crisis in the future.

The issue of unmanageable commitments adds another layer of complexity to the predicament. As a society, we have made promises and commitments that may not be feasible given the current economic realities. This mismatch between commitments and resources has the potential to create widespread instability and disillusionment.

One of the fundamental aspects that Morgan’s statement brings to light is the concept of “everything bubble” in asset prices. This refers to the pervasive inflation of asset values across various sectors, which is unsustainable in the long run. The inevitable bursting of this bubble could have far-reaching consequences, affecting not only financial markets but also the real economy.

Delving deeper into these concerns, it becomes evident that the underlying problem may stem from the very system through which we measure and account for economic activity. The mention of double-entry bookkeeping alludes to a systemic issue in the way we quantify and record financial transactions. This prompts us to consider the accuracy and relevance of our current accounting practices in capturing the true essence of economic value.

Moreover, the notion of a measurement problem related to the abstract nature of monetary units raises profound questions about the foundation of our economic framework. The fact that a monetary unit is an abstract unit of account implies that our entire economic system is built upon intangible representations of value. This abstraction may lead to distortions in our understanding of real economic dynamics, potentially contributing to misaligned policies and decisions.

Another critical point raised is the concept of the Accounting identity, which highlights a crucial discrepancy in our approach to measuring economic activity. The emphasis on measuring based on debt rather than tangible units of energy or real resources underscores a fundamental flaw in our assessment of economic wealth. By prioritizing debt-based metrics over tangible assets, we may be perpetuating a distorted view of prosperity and sustainability.

In light of these profound insights, it is evident that we are facing a paradigmatic challenge that goes beyond superficial economic indicators. The very foundation of our economic system, including how we measure value and account for resources, warrants a comprehensive reevaluation.

To address these pressing concerns, it is imperative to consider alternative frameworks for measuring economic activity and wealth. This may involve exploring concepts such as energy accounting, which seeks to quantify economic value based on tangible energy resources rather than abstract monetary units. By incorporating a more tangible and fundamental basis for measuring value, we can potentially gain a clearer understanding of genuine economic prosperity and sustainability.

Furthermore, reexamining our approach to financial management and accountability is paramount. Relying solely on debt-based metrics may lead to a skewed perception of economic health. Embracing a more holistic measurement approach that encompasses real resources and productive capacity can provide a more accurate depiction of our economic reality.

In conclusion, the concerns raised by Tim Morgan shed light on deep-seated issues within our economic system that demand urgent attention. By critically evaluating the underlying problems related to measurement, accounting, and systemic imbalances, we can pave the way for a more resilient and sustainable economic framework. Policymakers, economists, and society as a whole must engage in meaningful discourse and action toward addressing these fundamental challenges before they escalate into an unprecedented crisis.

To the victor then the spoils and as well as writing the history so shall the victor perpetuate the debt-based accounting system and accounting unit. Angola leaving Opec, African Oil reserves the current conflicts in Ukraine, Gaza, and the Sohal region all point to a myth written into history revolving around scarcity and wickedness in the human condition.

CJ Hopkins summed up the year this way https://consentfactory.org/2023/12/21/the-year-of-the-mindfuck/

Years ago in rural Maine I met a remarkable writer and thinker, a woman named Carolyn Chute. She referred to our divisiveness this way:

It’s not left and right, It’s up and down. All us people down here struggling, while those at the top are having a good time.

Our divisiveness is largely manufactured, by elites using the age-old control strategy of divide and rule.

Essentially we are divided by a common “Babylonian” accounting system. Happy holidays all. https://surplusenergyeconomics.wordpress.com/2023/12/18/266-the-future-we-didnt-order/

Hi John,

At the bottom of it all this Christmas morning, it all happened here yesterday when we do it on Christmas Eve, did you see the Ukrainians are doing it now on the Gregorian 25th rather than the Julian 9th will they do it on the Continental Eve or the more Anglo7American day? and indeed who gives a hoot.

2023 was a terrible year, Economic warfare against the agency and liberty of the individual has undoubtedly been escalated. In my view the war was declared with Big Bang, 1985, and escalated in 2000, 2008, and then 2020-202?

We all like the smell of our own farts’, we should never forget that but, the comment I left on Tim Morgans’s Blog and CJ Hopkins this morning I also cut and pasted into the slog. I still fart but now only in the comments

Fundamentally it is the Babylonian accounting system that rules the roost and the debt-based monetary unit the DOLLAR or the SDR? take your pick but the SDR unites all central banks including the one in Moscow and Beijing. The CBDC will have a common international unit of exchange, probably aligned to the Weight of gold as is the Babylonian preference, the carbon atomic weight of gold will be in the mix as carbon-based energy rationing is needed to sustain the myth of Oil and energy scarcity.

It is as if the whole human family is still blindly sitting down to play Monopoly over on a newly minted Hasbro Monopoly set oblivious to the Landlords Game roots of the game and further the essential truth that the Game reveals regarding “Monopoly” Meanwhile Trivial Pursuits has become a thing of the past ( board game wise), but not in the lived cyber reality of anti-social media which the whole internet has become. With the Cheeses presumably having been repatriated to the Big Cheese back in Babylon.

I have a very strong sense that sanity consists of just shutting up and going along quietly once one discovers these things, I suspect that it is underestimated just how commonly seated at a visceral level these truths actually are. Mark Twain had a way with these simple truths “Death and Taxes”

I have been learning swedish,” Jag lärt mig att talar svenska, för allt kommer att olicka inte det blir”. Jag fiser fortfarande men bara i kommentarerna

Merry Christmas,

Best

Rog