We are on the growth to nowhere

The article of  Alasdair Macleod  The fallacy of economic growth  spells it out:

"A free-market economy in the absence of external factors does not grow: it progresses, which is a very different thing. It discards those things consumers do not want and produces things they are likely to want. It adjusts the price of products to a level which satisfies the consumer and is at the same time profitable. Overproduction is punished and underproduction invites competition."

But we are learned to love growth and almost panic when the tv puppets say that the growth is faltering. And that might be our bicycle - the growth in itself is meaningless or at least irrelevant for the society. Except that it might be dangerous for our limited resources and the environment. But, yes, growth is very well relevant for the ever rising profit junkies in the financial and corporate world. And zerohedge nails it down in its must read post


"That the world is slowing down everywhere. And since conventional theory means that much, much, more debt will soon be unleashed to restart growth, and since everyone already is full to the gills with debt, the only realistic buyers remain central banks. And they know it. Which, incidentally, is why the market is tumbling: after all, as we have been claiming all along, there must be some pretext for global coordinated QE. Well, another 10-15% drop in the global capital "markets" will get us there in no time."

Here is also our actionable insight - buy the fucking dip in gold and silver. They have already stopped plunging and much too soon we will see the new wave of easing.

enjoy  talking heads