The world' global positioning system (GPS) is in trouble. The US government accountability office (GAO) has published a worrysome report on the situation. The GPS satellites are wearing down and, if no new investments are made, the accuracy of the positioning system will be reduced. Eventually, the whole system may cease functioning.
What's happening here? The GPS system is a pinnacle of modern technology, a demonstration that the thing we call "progress" exists. If you have a car navigator, the idea of going back to clumsy printed maps just seems impossible. And that is just one of the many uses of the GPS system. How come that we left such an important system degrade? How can it be that someone forgot that satellites need to be replaced after a while?
The degradation of the GPS system may be attributed to mistakes, incompetence, bureaucracy or even conspiracies. But the problem may lie at a much deeper level. It may be a symptom of the degradation of the whole economy. But why is this happening? People mention evil banking practices, speculation, subprimes, terrorism, and what you have. But, with so many things going on at the same time, what is really the origin of the problems and what is just a consequence of other factors? To find an answer, you need to understand how the world's economic system works. One of the first attempts to do that in a comprehensive way was the 1972 report to the Club of Rome known as "The Limits to Growth" (LTG).
What's happening here? The GPS system is a pinnacle of modern technology, a demonstration that the thing we call "progress" exists. If you have a car navigator, the idea of going back to clumsy printed maps just seems impossible. And that is just one of the many uses of the GPS system. How come that we left such an important system degrade? How can it be that someone forgot that satellites need to be replaced after a while?
The degradation of the GPS system may be attributed to mistakes, incompetence, bureaucracy or even conspiracies. But the problem may lie at a much deeper level. It may be a symptom of the degradation of the whole economy. But why is this happening? People mention evil banking practices, speculation, subprimes, terrorism, and what you have. But, with so many things going on at the same time, what is really the origin of the problems and what is just a consequence of other factors? To find an answer, you need to understand how the world's economic system works. One of the first attempts to do that in a comprehensive way was the 1972 report to the Club of Rome known as "The Limits to Growth" (LTG).
Read on...
The symptoms of economic decline are everywhere you look. Peacenik scanned the Globe this morning. (Yes Peacenik will continue to read the Globe). The headlines are scary. High stakes, hight costs and high hopes. Auto bailout pushes Ontario $4-billion deeper into the red. The Aftershocks. Auto parts suppliers can only wait and hope for the best as GM goes into protection. Consumer load losses pinch banks. By the way, the mighty Royal Bank of Canada posted a loss last quarter. That should scare the bejezzus out of you.
So Peacenik was kind of interested in a new symptom of economic decline that Peacenik never thought about. The GPS system is failing. Peacenik is glad Peacenik doesn't have a GPS. Imagine driving to Toronto and ending up in Timmins. Or going for a hike and never coming back. Right now governments act like they think there is enough money to wage war and rescue GM and bailout the banks. But there isn't. Governments know that. That tattered social safety net that everyone wishes wasn't so tattered is about to fail on an unimaginable scale. Peak Capital? Peacenik thinks it is past. The race to the bottom? Its here.
So Peacenik was kind of interested in a new symptom of economic decline that Peacenik never thought about. The GPS system is failing. Peacenik is glad Peacenik doesn't have a GPS. Imagine driving to Toronto and ending up in Timmins. Or going for a hike and never coming back. Right now governments act like they think there is enough money to wage war and rescue GM and bailout the banks. But there isn't. Governments know that. That tattered social safety net that everyone wishes wasn't so tattered is about to fail on an unimaginable scale. Peak Capital? Peacenik thinks it is past. The race to the bottom? Its here.
