I am floored by the number of hits Monday’s post received as well as the number of questions I was asked.
Some background that lead to my thinking.
I have been looking at the global economy here at Gray’s Economy for a number of years and I just can’t figure out why we are here in these alleged dire straits.
Just looking at the inputs to the global economy and the outputs from it doesn’t add up. There seems to be quite a deficit between the two. So where is the missing resources going to? And what are they being used for?
That’s what brought me to the post I wrote yesterday.
Surely, there are hundreds of trillions of resources (ie. dollars) created annually on this planet, with much of that sum off any official balance sheet. Just by looking at global GDP numbers tells you the
So given that as my belief and looking at the official responses of governments, I came to the conclusion that the global economy is being prepped for a technological reboot.
In order to do that there must be a safety net put in to guard against the bottom 20% of the world’s population, which would be harmed by such a reboot.
As I wrote yesterday with every technological advance millions of workers lost jobs, lost lives and suffered as a result. Well after 4-5 of these advances over the last 5 decades, governments see that the harm of the reboot must be addressed before the technology is rolled out.
This is why we have all the initiatives on creating a living wage or boosting the minimum wage here in the US. You also see here in the US millions of Americans over the last 10 years of moving from government unemployment checks to Social Security’s disability rolls.
Again creating a safety net for the soon-to-be affected masses.
I also cited yesterday a timeline of technological advances and how each decade something new moved the economy forward. From the 1960’s Univac mainframe to the iPhone in the mid 2000’s.
Well we have the iPhone 7 now, and not much else to crow about. Uber? Tesla? Facebook?
Not exactly moving the ball across the goal line.
No the next big thing is overdue, and I don’t think the computer analogy is apt for it.
I believe we have to go back to the steam engine to find an apt comparison.
I believe the next technological jump has to do with a concept called free energy. It’s always been available, but our physics over the last century was flawed and only recently has that been changed.
I’m not a physics professor, so don’t ask about the mechanics or formulas behind this, I’ve only come upon this myself recently in speaking with those who would know.
Let’s suffice it to say that Albert Einstein’s E=MC2 had a fundamental flaw that has been rectified. And it’s not in any of those three variables, but in the underlying physics to get to that formula.
So this is the reason I say that plenty of economic and policy initiatives needed to be put in place before it could be announced.
Everyone from executive and bankers down to gas-pump operators will be affected by such a technological release.
The reason I have focused on Antarctica is I was told this is the only area on the globe were testing on the new energy system could be done without knowledge of it being leaked out.
I have no timetable for this monumental event, but as news out of Antarctica continues to be floated, I feel it is getting closer.