Dana Milbank; The Washington Post

When are these curmudgeons going to get with the team, learn from mistakes, open their eyes. We live in a false crisis period of flux before the dawn of the Keynsian Capitalist Utopia (KCU). Keynes foresaw all of this, though perhaps not the fine detail or the complete ramifications.

The market has forced the low skilled onto the minimum wage, with little discretionary income. Economic activity involving the spending of money comes to a standstill. So growth almost freezes. In the mean time technology is on the verge of wiping out these very jobs. What will be the effect on the economy when 80% of the participants are so poor they can barley put food on the table. All of the companies making discretionary items (everything except clothes, food, heating perhaps; possibly electricity) 

There is no way the powers that be will allow this to happen, but people like these republicans seriously can not see the wood for the trees. They are blinkered by their neoliberal dogma so that they can not see any other way than what they have done before. They have lost the ability to learn from their mistakes

will go under. The economy will shrink down to a very basic level.

 The very definition of work will have to be redefined. Creativity, hopefully beyond the ability of AI for ever, will be at a premium. People can't survive in modern economies without spending money. The whole thing exists or doesn't on the basis of this fact. If people don't have sufficient spending money or work to earn it, the economy comes to a standstill and prices go into a nose-dive.

Experiments in Guaranteed Basic Income are being evaluated in Canada and other countries. This model taxes those who can afford it and pays everybody a living amount. The fear has always been that it wouldlead to a downward spiral in productivity with a resultant nosedive in growth. No evidence has emerged yet to this effect, indeed the results indicate neutral effect on productivity.

 

 Conservative forces worldwide are denying scientific evidence and making decisions on the basis of emotion and ignorant populist opinion. This is no good way to make decisions and is leading the world further down the dangerous road of extremism. This is what I mean when I say that we live in a period of flux. As the world gyrates around the edge of precipice of annihilation, people have to re-engage in politics. If everyone is fully engaged my faith tells me that good will prevail. More than ever our destiny is in the lap of God.