Prepare for the Global Long Wave Extinction Event
By David Knox Barker
Sunday, 21 August 2011
Life without appreciation for irony in global financial, economic and political affairs would be challenging. God undoubtedly enjoys the irony at work in human action. Politicians promising government sponsored heaven on earth for decades have delivered the world into a global financial meltdown nightmare, and the cusp of another depression. All around the world, the politicians are scrambling for their political lives, and many their political souls, as the global system enters a long wave extinction event.
The final plunge of this long wave winter season is now underway. The international political economy, which has lost its moorings in individual accountability, responsibility and purpose, is breaking up. Socialism in all its forms, including the global banking system that is dependent on the government dole, is collapsing from the weight of its internal contradictions. Socialism is going through an extinction event in the final years of this long wave, receiving its just reward from the crushing long wave forces that it has magnified around the globe.
It occurred to me that many readers may not appreciate the irony in the title of the latest version of my book on global long wave cycles of prosperity and depression; Jubilee on Wall Street; An Optimistic Look at the Global Financial Crash. Clarification is required. The optimism is based on the forecast that the final crisis years in the latest global long wave depression will usher in radical global change, for the better. What the world is now entering is an event several times larger in scale than the 2008-2009 global financial disaster that was maybe an 8.0 on the cycle scale. The financial quake of 2012-2013 will be closer to a 13.0 event in comparison.
The good news is that the long wave extinction event now unfolding around the globe, which will clean the slate of failed socialist ideas, is setting the stage for a new global economy. The days of socialism are numbered. In Jubilee on Wall Street, the name given to this new system that will emerge from the chaos created by the politicians and their crony capitalist conspirators is The Great Republic. A brave new world is coming. It will be a new form of international free market capitalism. It will produce the greatest global boom in human history. Adam Smith coined the term of the Great Mercantile Republic in his still relevant 1789 book, The Wealth of Nations. He used the term to explain the international gold based monetary system. Gold was the accepted international currency of Smith’s Great Republic, and it is making a stunning comeback as the global economy, which compromised with socialism, descends into chaos.