I am sure all of us have had the experience personally or at least have had friends or family who for one reason or another have found themselve in the situation where their rate of debt acquisition has exceeded their rate of income. This could be for a variety of reasons; it happened to various members of my family during the Great Depression. There might also be the circumstance where there is the loss of one or all of the income in a family.
On the global scale we have a similar situation. The problem is that where natural resources are concerned there is no bank that is going to forclose, no sheriff who is going to evict you from your house. When shortages occur, world prices change rapidly potentially destabilizing the world political scene. Suddenly the survival of small national groups becomes more important that the survival of all of the planet's inhabitants and the ability of those inhabitants to interact in a mutually beneficial and constructive way. It's a slippery slope and we are starting to slide......
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