Archive for November 30th, 2011

Looking into the abyss

Have spent the last few weeks wondering if the world as I know it is about to end. The evidence is increasingly pointing in that direction. Some say it could happen this week. Most agree that without a German volte face, we’ll know the worst by the end of January.

What would be the effect of a disorderly Eurozone debt default? Pundits offer every scenario, from brief financial turmoil at the mild end of the scale to total economic collapse and world war at the other.

Me, I haven’t a clue. But being a natural pessimist, I’m not banking on good times around the corner.

I offer no predictions or prescient economic analysis. No can do. I have only these two mildly interesting observations:

• Economic/historical point: Isn’t it fascinating how Germans, themselves victims of rapacious Allied creditors demanding debt payback, austerity and reparations after WW1 – with all the baleful consequences of that policy – are now rerunning history in role reversal by forcing austerity on their ‘profligate’ neighbours… with depressingly predictable consequences? Like the Bourbons, it seems they have learned nothing and forgotten nothing.

• Psychological point: Isn’t it strange how full awareness of disaster-in-the-offing in no way helps – not the tiniest, teensiest bit – to mitigate the effects of imminent crisis? Truth is, when you’re looking at a partial or total collapse of economic and social order, there’s not a fucking thing you can do to prepare or insulate yourself from it. Except stock up on chocolate.

If those who ignore the lessons of history are doomed to repeat them, it seems those who learned them fully are destined to stand by and watch powerlessly while the others comprehensively fuck up the train set.

So, dear readers: Assuming the worst (and why wouldn’t I?), I wish you the best of luck, wherever and whoever you are. See you on the other side – if there is one.

Posted on 30th November 2011
Under: Rants | 5 Comments »