Thank you Marty for bringing the conversation back on track. I think of crisis theory as something like the situation in San Francisco. Knowledgeable people know that an earthquake there is inevitable. They don't happen everyday. The longer the wait, the more pressure builds up and the more violent the rupture of the earth.
The currency imbalance is only one of the tensions building up. Environmental problems, whether they appear as a increasing energy cost or something else, will certainly have to be faced sooner or later. We don't know exactly where the earthquake will be centered. Usually, it comes from some place very unexpected.
The United States is rabidly dismantling the protective controls meant to moderate the effects of a disaster. We might even be seeing the creation of a social structure of disaccumulation.
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Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901
