Sometimes the messenger is easy to dislike, in which case the message is ignored and the messenger becomes the issue. A recent example was the billionaire real estate mogul, Jeff Green, was interviewed by Bloomberg at the Davos _World Economic Forum where he had this to say:
America’s lifestyle expectations are far too high and need to be adjusted so we have less things and a smaller, better existence.… We need to reinvent our whole system of life.
Needless to say, suggesting that the little folk need to lower their expectations and adjust to have less, went over like the proverbial lead balloon. In a later interview with CNBC, Mr. Green tried to “adjust” his words:
“What I said was, ‘the global equalization of wages and technology, which is growing at an exponential pace, has killed so many millions of jobs in America and other Western economies and it’s going to kill them at an even faster pace going forward.‘ I said, ‘we have our work cut out if we want to build a real economy, an inclusive economy that I grew up in, that I want to see for all Americans,'”
I am sorry folks, but this billionaire was just being candid. Asylum Watch has been saying the same thing for a very long time. Technology can provide everything mankind needs or wants except a way to keep 8 billion people usefully occupied. The central planners in our governments and central banks are only making things worse. The diminishing returns of different forms of stimuli are hardly measurable anymore and it is far too late for austerity to work. The world needs some sort of paradigm shift and I’m afraid I don’t have a clue what that might entail.
Well, that’s what I’m thinking. What are your thoughts?