I'm prone to agree with your cataclysmic scenarios, although I suspect climate change-driven mass migration may be the straw that breaks the camel's back. That, and worsening economic inequality and uncontrolled population growth to accelerate the process.
It was easy for this country boy to see even back in the late 60s that globalization would drive wages and prices toward equalization world-wide. That light-bulb event occurred when K-Marts started opening (well before WalMart) and I saw Chinese and Japanese products that were way too cheap. So, my simple brain said: "so the Chinese are working for 50-cents a day, while my friends are working for $5/hour. That means that as wages equalize, our standard of living will have to come way down".
It has taken longer than I thought for that simple notion to come to be, but it is slowly happening here and in other Western economies. The big boys at the top of the food chain will keep it glued together to prevent a total collapse for as long as they can, laughing all the way to the bank. But as you said, sooner or later it will all come crashing down.
.......
.........
Edit history
Recommendations
0 members have recommended this reply (displayed in chronological order):
= new reply since forum marked as read