Tag Archives: debt serfdom

Greece: Are You Finally Ready to Do the Right Thing and Leave the Euro?

The era of living off borrowed money is over in Greece, and the Greek people now have a choice. Almost four years ago I wrote Greece, Please Do The Right Thing: Default Now (June 1, 2011). Default remains the only real … Continue reading

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Asset Ownership and Our System of Deepening Debt-Serfdom

Debt-serfs who make the difficult and risky transition to small-scale business owners find they have simply moved to another class of serfdom. The core dynamic of debt-serfdom is that debt-serfs must borrow money to buy essentials while the wealthy borrow … Continue reading

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Degrowth Solutions: Half-Farmer, Half-X

The Status Quo is terrified of a world devoid of debt-serf “middle class” consumers. When people say they want solutions, they’re actually seeking only a specific kind of solution, one that leaves everything they have now intact but guarantees them … Continue reading

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The Solution to the Declining Middle Class: Destroy Fixed Costs and Debt

The solution to the erosion of the middle class lifestyle is to destroy debt and other fixed costs and eliminate self-sabotaging discretionary consumption. Last week I covered the structural dynamics causing the decline of the middle class. In general, the costs … Continue reading

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The Five-Year Fantasy Is Ending

Since these monetary/fiscal fixes (i.e. distortions) didn’t address the real issues, all they can possibly do is increase the magnitude of the next collapse. For five long years, we have pursued the fantasy that we could return to “growth” without … Continue reading

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