{"id":22853,"date":"2008-07-15T09:10:00","date_gmt":"2008-07-15T09:10:00","guid":{"rendered":"https:\/\/clusterfamilyoffice.com\/blog\/?p=486"},"modified":"2008-07-15T09:10:00","modified_gmt":"2008-07-15T09:10:00","slug":"el-seismo-y-el-tsunami","status":"publish","type":"post","link":"https:\/\/clusterfamilyoffice.com\/en\/el-seismo-y-el-tsunami\/","title":{"rendered":"Earthquake and Tsunami."},"content":{"rendered":"

23 June 2007:<\/a><\/p>\n

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(\u2026) But \u201cdon\u2019t worry\u201d, things won\u2019t get that bad. Our financial system is not in mortal danger as long as there is still scope for greater social hardship. Unfortunately, that\u2019s just the way the game is played. But the anchor effect<\/a> In good times, it helps us look the other way. As he said, Supetramp<\/a> in 1975: Crisis? What Crisis?<\/p><\/blockquote>\n

Nowadays, no one can turn a blind eye any longer. We all know \u2013 even the most optimistic or misinformed amongst us (where have I heard that phrase before?) \u2013 that we are in a crisis. Or rather, a Crisis, with a capital C. Some have found it very hard to conceive of a major crisis without a stock market crash, with the permission of the draft of 21 January<\/a> That may be in the past, but nowadays even those with the slowest reactions know that the West is in crisis. Nevertheless, it seems that the dangers which some saw as threatening the survival of the financial system will be resolved through global impoverishment.<\/p>\n

\"\"<\/a>The rise in energy costs has undoubtedly fuelled this sense of crisis. Yet, for most people, it is still little more than a feeling. Prices are rising as a direct consequence of the cost of crude oil, but the impact on employment resulting from the fall in consumption is still in its early stages. Unemployment is only just beginning to rise, and society has barely begun to feel the consequences of the economic system\u2019s decline. Moreover, coming as it does on the heels of unprecedented consumerist excesses and financial extravagance, the fall will be all the more painful. The earthquake has struck \u2013 seismologists know this only too well \u2013 but the general public, despite some increasingly urgent voices of alarm, remains largely oblivious as it awaits the arrival of the tsunami<\/a>.