NEW YORK ( Bullion Bulls Canada) -- It is an utter absurdity that "sustainable development" is a proverbial four-letter word throughout our society.
Proclaim you're an advocate of sustainable development, and then just stand back as right-wing Neanderthals hurl their idiot-epithets at you. Environmentalist. Socialist. Communist. In fact, however, what advocating sustainable development really signifies is a basic understanding of economics, and the ability to perform arithmetic.
As every economy matures, economic growth steadily slows -- literally toward zero. This is not a "theory." This is empirical evidence, from every nation and culture on the planet, spanning thousands of years.
When an economy begins development, growth is initially rapid as economic opportunities abound. However, over time these opportunities dry up as there are less new markets to discover and the old markets begin to become "crowded" with competitors.Understand that if one is against sustainable development then ipso facto you are an advocate for "unsustainable development." Unsustainable development -- in a finite system -- is not an "economic strategy." Rather, it is conclusive evidence of either insanity or idiocy: seeking to do the impossible, or not understanding that you seek to do the impossible. But we're not dealing with simple idiocy here. We compound that idiocy, many times over. In addition to the inevitable slowing of maturing economies, we have piled insane amounts of debt onto all these mature economies -- making them hopelessly insolvent. Put aside all of the obvious Western Deadbeats (led by the U.S.). Let's look at Canada. A quarter-century ago, when Canada's debt-to-GDP ratio soared above 70%, it was universally agreed by governments, the media and their esteemed experts that Canada was experiencing "a debt crisis." Today, with Canada's debt-to-GDP ratio above 80%, it is hailed as a paragon of fiscal prudence by these same governments, media and experts. Obviously the rules of arithmetic haven't changed in the last 25 years, meaning you cannot re-define solvency. We are being lied to. Nearly all Western economies are spiraling toward complete debt-implosion -- at which time the more than $1 quadrillion in assorted banker, paper Ponzi-schemes will also implode. Want to get some idea of what that will look like? Think Greece.