The System is Clearly a Joke
We've got a terrible economic situation and it’s getting worse. But why is this? And what will it mean for, say, the UK's jobs market, industry, education, and society as a whole?
My prognosis is that the economic situation will lead to an even greater scarcity of jobs in the future as the debt game trundles on. We'll see more social division, patriotism and nationalism emerge as individuals - in this case, British citizens - move toward a protectionist mentality, perceiving that they have more of a 'right' to take a job above non-British citizens.
Although we've seen great economic development and progress over the last few decades, this is only thanks to the exponential increase of public debt, which now stands at some $40 trillion globally; This is a recipe for economic disaster. But where's all the money gone? Well, the super rich hold around that amount in secret offshore tax havens, but their money only tends to get spent on extreme luxury items.
Okay, but can’t the government stimulate growth? Well, I’m sad to say, but I don't think the UK - and perhaps even the world - will see significant long term jobs growth ever again - and yes, I mean ever!
Firstly, the banks aren't lending because they are already massively over-leveraged, and they don’t want to capitalise new businesses because the citizens are broke - meaning that demand is falling, which is already hurting current businesses. If the government tries to stimulate growth, this will trigger more inflation, which will hit savers, via price increases. Thus, we seem to have a perfect storm where the government, the banks and the citizens simply cannot afford to go on, nationally or privately.
But here is the real elephant in the room; technological unemployment. Those jobs that are left will likely be automated over the coming years as businesses vie to compete for the reduced cash flow of the UK's citizens by downsizing their workforce in favour of machines. The service, construction, transport, and communications industries are all going to become automated, and the knowledge economy is not going to save us!
But we should recognise that these types of problems are actually systemic, from an inherently flawed economic model - namely monetary economics. This is because of the intrinsic scarcity of money value, in and of itself. Frankly, the contrived scarcity of money value - and the cynical game of profit and growth that has emerged as a result - has created a world of extreme class divisions, which only further undermine the economy due to the stemming effects that offshore tax havens have on cyclical consumption. Citizens can’t buy if all their money has been funnelled out of the country.
But these issues don’t even touch on the physical unsustainability of growth to begin with. The world cannot continue to support perpetual growth on a physical level, we will hit the edges of the Petri dish sooner or later. Thus, the system is clearly a joke; Money is not economic at all, in fact.
Here's a question; What happens when there are no jobs left and the citizens have no money to purchase the goods and services being produced by the machines? And what kind of education system would there be, when we no longer require a human workforce?