Submitted by AOD
The economy of the USA will slide into depression, greater than 1931 (it did not truly begin in 1929). Paralyzed by excessive debt, the futile attempts by their federal reserve to monetize this debt will fail. The US economy will begin to “circle the bowl” each round of quantitative easing (adding money to the system and making it available to banks to make loans…but the banks then don’t lend it, but instead use it to cover the mountain of debt from the housing/securities ponzi scheme). Each round is less successful than the previous and is place solely on the tax payers backs. This is mathematically impossible to escape and requires double digit GDP growth for 14 years consecutively to clear the current debt out of the system.
Therefore the dollar will be destroyed, all currencies pegged to it will be the means by which those countries import massive amounts of inflation as the dollar continues to lose value against world currencies then commodities. It is in the best interest of the US that the E.U detonates first (the seed of the greatest war) , for that scenario buys the US sometime, but unless the fundamental problems of lost real jobs (where an actual product is produced), and dying industry are addressed there will be no recovery.
Devaluation only works when you are a producer.
So for Barbados, remaining pegged to the US dollar, just as we rose with them we will fall, and suffer the exact fate…. or far worse, unless we make drastic changes soon.
Barbados does not have food security and is in a climate of increasing fuel and food prices. If the devaluation of the US dollar over the last decade was the first stage for skyrocketing food and fuel prices the Middle East liberation is certainly the second. This turmoil will literally and figuratively place food and fuel prices into orbit, out of reach for many.
What little economic recovery there is will be snuffed out cold.
Fuel is linked to water and it is a matter of national security. We will need reserves in place to facilitate the distribution of water for survival for at least 2years. Wind driven pumps will become precious as fuel becomes scarce. Reducing energy wastage will go from being a “nice thing for the environment” to a matter of necessity.
Outside of our direct controlled is the development of some incredible energy technologies, which will finally be revealed as the era of oil comes to an end. It will take some years for these technologies to achieve mass distribution… so in the interim energy frugality will be necessary. This energy revolution will officially launch the 21st century standard of living. What masquerades today as 21st century living is an extreme caricature of the 20th century. Not a single product is unique to this century but merely extreme refinement of 20th century technology.
Until then Barbados has advantages.
We have more than enough water reserves to meet our NEEDS but we need to secure its distribution. We have an abundance of solar radiation and no winter requiring heating oil/ high energy use. Using fuel to produce heat is a most wasteful process thus avoiding this negative is a huge positive for us.
Barbados is small, densely populated and relatively, culturally stable. Working together, and with no real barriers to the transport of goods and services within the nation we can ride out the global storm. Think tanks are a great idea but must be married to action groups, like the brain connected to the hand, which makes all invention possible.
Through modern techniques in agriculture that utilize small self sustaining units to produce yields many times that of the methods of old we will be able to feed ourselves. Brilliance and excellence in agriculture will take on heroic significance. A time to survive, a time of reassessing our values, morals, and a return to core strengths. It will be a time of purifying ourselves from decades of post WWII decadence, and the slow poisoning of a terminally ill western civilization. Purging ourselves of the toxicity, awakened from the drug induced coma. We will be healthier, stronger, more creative, more cohesive, ethically, morally and spiritually renewed. Until then…
Our first duty is preparation. Grasshopper time is over, it is time to be an ant. For a time we played a jolly tune, but the prelude to the 21st century is over.