The current global system is doomed … Collapse now inevitable

Wednesday, November 25, 2015
By Paul Martin

by: J. D. Heyes
Wednesday, November 25, 2015

Those who sailed aboard the Titanic on its maiden voyage were led to believe that because of the design of the Irish-built cruise liner, it was unsinkable. History, of course, proved that to be an incorrect assumption; at 2:20 a.m. on April 15, 1912, the luxury ship sank in the frigid Atlantic Ocean with 2,200 people aboard, roughly two-and-a-half hours after striking an iceberg.

Majestic and luxurious, the Titanic – at 883 feet from bow to stern and with 16 compartments – was thought to be watertight. It wasn’t. It’s appearance, in other words, was deceptive.

A great many experts today – especially economists and experts who are realists and not corporate shills – are comparing modern markets and financial conditions to the ill-fated Titanic, a facade of stability, while underneath lies an infrastructure doomed to failure.

As noted by Charles Hugh-Smith of OfTwoMindsBlog, recent efforts to fix the ill-designed global financial infrastructure and change course, have been akin to rearranging deck chairs on the Titanic: they might look great on the surface, but in the end the same thing is going to happen.

Specifically, he writes:

“We’re like the passengers on the Titanic 10 minutes after the mighty ship struck the iceberg: there is virtually no evidence to those on deck or those snug in their warm cabins that everything they reckoned was safe and secure was doomed to perish.

“Only those who witnessed the damage below the waterline and who knew the limitations of the ship’s design grasped that the loss of the ship was inevitable and could not be reversed.

“The current world-system (call it whatever you like–cartel-crony neoliberal-state capitalism, etc.) is as doomed as the Titanic, for the same reasons: the design of the system is the source of its failure.”

Rotten infrastructure stems for a poor design

The Rest…HERE

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