START WHAT ENGINES, ECONOMIST?
One might pause to consider more carefully the history of the relative energy-flux density of the characteristics of known living species on Earth since way, way back; then, reality places certain doubts on the net judgment implied in the June 9 issue of The Economist.
In net effect, it is the rate of net energy-flux density represented by a relevant species, which tends to determine the trends of survival and advancement of living species. The human species, especially so. Add to this, the fact, that most of the relevant living species associated with supplying human requirements, depend upon the role of the human species’ sustained and prospering growth, which, in turn, determine the prospects for mankind’s husbandry. The current trend, as in the cases of North America and western and central Europe, is a collapse of the density of both physical productivity and useful consumption, per capita and per square kilometer, and so on; whereas the per-capita intensity of productivity of the human population now collapses in the northern part of the Atlantic hemisphere, and that at a presently accelerating rate.
And, so on, and so on. It would therefore appear to some, at least on the surface of matters, that The Economist of June 9th had struck the relevant button in its “Start the engines, Angela.” A similar result has been actually experienced under the U.S. Presidencies of the U.S.A.’s Presidents George W, Bush, Jr., and Barack Obama. The condition of most of western and central Europe is already as bad, or much worse. Germany might survive if it dropped out of the Union soon enough, and in the right direction; but, remainder of western and central Europe is already steeped in a horrid flood of an hyper-inflationary and unredeemable mountain of unpayable debt. No need to doubt the reasons for the increasing trans-Atlantic interest in a President Franklin Roosevelt-style Glass-Steagall alternative. No more of the excuse which runs, “Yes, it is our debt, but it was our money.”
So, your suggested help to Ms. Angela Merkel, would not work, after all.
Meanwhile, cancelling the debts which are not protected by Glass-Steagall arrangements, is indispensable for all would-be survivors, while other classes of financial debt remain hopelessly lost money, money which had been already many times over-spent. I am certain that the population of the United Kingdom has great immediate need for an outcome similar to what I have suggested. The only remaining catch for the United Kingdom in that solution, is that true success of the new investments requires rapid advances in investments in very-high energy-flux densities for, among others, the historically leading nations, and others, too. High-intensity expressions of Thermonuclear Fusion are a prominent prospect for early appearance, perhaps, on the safe side, about as much as a quarter-century ahead, to meet the requirement for one week’s human travel from Moon to Mars, with actually optional return.