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Friday, August 31, 2012

Revisiting the Future by Jeff Thomas

2. The Greater Depression

Once people have acknowledged a change of direction, it is easier for them to accept that the trend may become more extreme than it is at present. Correspondingly, after the 2007/2008 crashes, most people were now willing to accept that a recession was underway. However, very few were willing to accept the dreaded "D" word. The term "Greater Depression" was coined by Doug Casey of Casey Research early in the game and is, to my mind, the most accurate two-word description of the economic period that we are now experiencing.

However, as I have stated, the "D" word is so repugnant to most people that, regardless of the indications that we are, indeed, experiencing a depression, most people simply cannot face the term as a reality. They prefer any number of euphemistic terms, such as "double dip recession," in order to avoid accepting the unthinkable.

This is human nature. It seems that, whilst a small number of us would prefer to face the music right from the outset and begin a plan to deal with it, the great majority will accept the details of what is occurring, whilst rejecting the overall reality.

Posted via email from iPT Perpetual Traveler

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