Thanks for this fwd, Sally. I've been thinking along these lines for
some time. My brief comments follow.
I don't think this guy is an irrational scare monger. A double whammy
could result if energy, food, and water scarcities inflate prices for
necessities at the same time that high tech toys & luxury items go
begging. A question to ponder is exactly who loses when the house of
cards collapses? Debters declare bankruptcy, often keeping their primary
residences (laws vary by state/nation). It should be creditors &
investors who lose, with funded pensions, annuities, and insurance
companies collapsing too. Population crash could be initiated due to
sharp mortality increases, and desire to avoid pregnancies with
uncertain future.
They say on Wall St.: "timing is everything". That may be so for trading
profits, but not for organic systems which include human habitat. There
is no exiting and cashing in our chips for our species. Y2K need not be
the driver for the collapse, but it (& fears about it ) could have an
impact. Ed Yardeni, chief economist of Deutsche Bank, is calling for a
30% stock mkt correction at a minimum.
Steve
