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One look at the streets in Spain or Greece right now will tell you pretty quickly that the people are fed up with both the economy and the way the world is running. Depending on what level of information you look at, you may or may not have been exposed to the fact that regardless of what the markets looks like, the world economy and how people are being effected keeps getting progressively worse. One can almost surely see that our current global economic structure is pretty much on the verge of a complete collapse.

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The following article was posted on Bloomberg.

The International Monetary Fund cut its global growth forecasts as the euro area’s debt crisis intensifies and warned of even slower expansion unless officials in the US and Europe address threats to their economies.

The world economy will grow 3.3 percent this year, the slowest since the 2009 recession, and 3.6 percent next year, the IMF said today, compared with July predictions of 3.5 percent in 2012 and 3.9 percent in 2013. The Washington-based lender now sees “alarmingly high” risks of a steeper slowdown, with a one-in-six chance of growth slipping below 2 percent.

“A key issue is whether the global economy is just hitting another bout of turbulence in what was always expected to be a slow and bumpy recovery or whether the current slowdown has a more lasting component,” the IMF said in its World Economic Outlook report. “The answer depends on whether European and U.S. policy makers deal proactively with their major short-term economic challenges.”

The IMF’s 188 member countries convene in Tokyo this week as low growth damped by fiscal consolidation in the richest economies hurts developing counterparts from China to Brazil. As the IMF urged measures to boost confidence, uncertainties out of Europe show no sign of abating, with leaders still divided over a banking union and Spain resisting a bailout.

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Confidence Fragile

“Confidence in the global financial system remains exceptionally fragile,” the IMF said. “Bank lending has remained sluggish across advanced economies” and increased risk aversion has damped capital flows to emerging markets, it said.

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Some key points within the article put into perspective how our mainstream view on economic situations is completely backwards from anything that resembles a free world where we can live in harmony together. The idea of competition where countries need to compete with other countries simply so they can survive as a nation seems crazy. What is that all about? To think that we are fighting tooth and nail to maintain this system. It clearly doesn’t work and is built upon ideas that nearly every conscious human can see are completely insane.

People ask me if the collapse of the economy would be a “good” thing. I often answer, how would you feel if you woke up to the world and the gears were not spinning the same way they always do? Even if there was some confusion at the beginning, maybe some tricky times, wouldn’t it still be a pretty big eye opener to see the world in an entirely different way? Would that make you reflect on how we need to be? To answer the question outright, I do feel it would be a good thing, especially if we are talking in terms of humanities overall conscious view of the way we are living. I think it would open up a lot of doors and allow us to realize, we don’t have to go back to a system like that ever again, nor do we need a rigid system of currency anyway. Right now there are numerous groups putting together ideas on how we can live in a world without money. It is not a new idea or something that is impossible, but before we can even begin to look at the external world we must really change our internal world. Ourselves. It all starts with us.


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