In Defense of Today Matches Predictions
In his book “Today Matches Predictions”, which I enjoyed reading, Barry Zuckerman uses this analogy of a bucket being filled up and then emptied. This is a good metaphor, if you think about it. With today’s developments in technology and the natural resource base depleted by human intervention, it would seem that today’s predictions are no longer likely to come true. Because it is so hard to predict what is going to happen today, that all depends on how you see things, right?
But, I remember back in the ’80s and early ’90s when all of the reality television shows were still relatively new. The predictions that were made then would be quite different than they are now. For example, the tag line that one would use back then was, “The Deuce.” Today, it would be, “Meet the Match.”
So, as far as the predictions go, the next phase of the new era of TV is based on reality. However, reality TV has done more to create the reality by making it seem like it’s all real. But, just because it’s all real doesn’t mean that everything will go just as planned. The end of the cycle of feeding the masses with false hopes has been anticipated for quite some time.
Because everyone thinks that this world is really being ruined, the sad truth of it is that we will not escape from a global economic meltdown. And, we need to understand that even if the budget cuts to the government have forced us to cut back on safety net programs that are designed to save and provide for future generations, there is nothing to show for it.
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The fact is that the unemployment rate has continued to hover around a huge number. So, how can that be? Well, that’s easy. When the economy suffers through a recession, people lose their jobs and it has an effect on our pocketbooks.
But, after we have made these supposed problems go away, those pockets still get filled up by spending, and when the stimulus package comes out next, that spending will return. It is hard to find a job during this recession, even in places that don’t have unemployment rates exceeding 8% or so. What happens then?
There will be lots of money spent on new business formation, homes and other investment properties, and other real estate improvements. People will then start to make money, buying and selling assets. There will be a boom, but this time, it won’t be at all sustainable, especially if the governments and others fail to keep the spending flow flowing and there is a sharp increase in inflation and interest rates.
As the society falls into more debt, the buying power of every dollar will plummet, especially when the unemployment rate tops out. At that point, all that has been achieved will be lost. Real estate and other assets will be sold at bargain prices and all the houses and apartments will be foreclosed upon.
The problem is that the banks and the financial institutions are failing to find new customers. And, there is no way that we can simply jump into another spending spree and expect to get what we expect to get out of it.
We need to change our thinking from, “I need to buy something because it will make me money,” to, “What can I afford now, so that I will be able to afford it later?” Because at that point, we have stopped seeing ourselves as part of the growing economy and we’re living out of our cars and under bridges.
We have taken the wrong track by assuming that we can always create more money. And, that means that we do not have to fix what we have and that we can continue with more of the same behaviors that created our current situation.
Instead, we need to make the necessary changes now and then, in time, we will be able to put things back together and even thrive again. rather than be staring down the barrel of a bankruptcy.