It is Obvious

Chris Rick has got altogether too much to say

The end of the world is nigh.

Posted by chrisrick13 on April 15, 2011

It is obvious: we are all doomed.

In ‘The Restaurant at the End of the Universe’ everyone is eating and watching the universe come to an end.  They have got there by time travel, having first gone back in time to deposit $1 and then roll forward millions of years to close the account and pick up gazillions of dollars of compound interest to pay for the last meal.  What a wonderfully ridiculous idea.  What use are dollars at the end of the universe?

What?  You mean that there is nowhere to spend those dollars and no time anyway?  No I don’t.  How ridiculous to think that you can get compound interest on your money and have more in real terms than when you started.

It is a complex business describing how wealth is created and more complex understanding it.  From the individual’s perspective they have to have taken part in a process and have added some value that someone is prepared to pay for.  They are then in the same position you were earlier.

It is then all down to the situation where I have pounds and you have shoes (say).  At some point I would rather have shoes than pounds and you would rather have pounds than shoes.  At that point an exchange can take place.

Am I describing a market where stuff has a value determined by what buyers are prepared to pay for it?

Are we at the end of the universe?  Another week goes by, many portents of disaster…but nothing yet.  I could name a few:

Greek default iminent.
(and Portugese, Irish)
Spanish unemployment and house prices.
US economy massive deficit and debt.
Bankrupt US states (eg. California).
China inflation on the run.
UK with un-fixable deficit.
Euro being stretched in many directions.
Oil price and production.

I could go on.  But nothing has happened.  So why worry?

Notayesmanseconomics and, now, many others are talking of ‘kicking the can down the road’.  This is a way of expressing one of several situations.  First the problem has been pushed into the future.  What has been done does not fix the problem, just delays the point at which it explodes (implodes).  Why do it?  For a start if you have a strong enough kick then you won’t be in charge and faced with fixing it.  Second something might come along and solve the problem for you.  (And I don’t want to discount at all the ingenuity of humanity in general – there is always this possibility.)  Third everyone might be wrong and there was no problems there really.

But supposing that some sort of armageddon comes along?  Maybe it is financial, maybe ‘natural’.  What will happen?  It all boils down to us suffering a lower standard of living.  Some of us will suffer but for most of us life will still be pretty good.  It will probably be better than when I was a child.  I was alive when there was rationing

So keep a close eye on world events, think about what you want to do and how you might secure doing it, have some fun.

It is obvious: we are all doomed, only some of us are more doomed than others.

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