Recovering Main Street & Reshuffling the World Economy

global trends: fixing our economy

Welcome to the first Monday edition of Global Trends, focused on what’s happening today that is turning your life on its head. We can’t ignore it any longer. If we bury our heads in the sand, there won’t be any sand left within months, not decades.

“THIS IS GOING TO BE A HARD TIME”

PopTech (The PopTech story) has begun a series of video interviews, Diagnoses and Prescriptions: Global Economic Crisis. Here’s an insightful one with Robert Borosage on what to do to fix things.


Can’t see it? Get FlashPlayer, or view at PopTech.

“IDEAS START ON THE OUTSIDE AND ARE DRIVEN BY PASSION”

From the PopTech site:

“Robert Borosage is president of the Institute for America’s Future, a contributing editor at The Nation magazine, and frequently writes on political, economic and national security issues for The Washington Post and Los Angeles Times.

In this special Pop!Cast, he advances a main street recovery plan designed to address America’s current economic woes and help us build towards a sustainable economy for tomorrow. Learn what Borosage envisions in the coming ‘historic spasm’ of reform, why Obama shouldn’t be afraid to try, try again, and what it’ll take to draft a constitution for the global economy that supports a broad, global middle class”

OUR TAKE: HIS MOST IMPORTANT STATEMENT

Whats the big issue that we’ve yet to address?

“I think the big question is how we restructure the global economy. That is not on the table. Everybody’s thinking in national terms. You’re trying to save it, with everone being thrown out of work.

But in the end, we’ve so integrated this global economy and it’s been integrated on the basis of deregulating finance across the world with massive flows of speculative capital that we have to shut down and forced into real investments rather than speculative gambling.

And we have to re-balance an economy that the IMF, the International Monetary Fund, among others have been warning can’t be sustained in the current levels of imbalances where we’re running these huge trade deficits and the Chinese are running huge trade surpluses, and other countries, then loaning us the money to buy the goods they make.

That can’t go on.

That’s a wrenching change for both the Chinese – for China to go from an export-led growth to internally-led growth, and for us, living beyond our means, and trying to figure out how we sustain a different system here that sustains a middle class but that lives within our means.

That long term restructuring, which will be the key to a successful transition out of this crisis, isn’t on the table yet, and has to be – quickly.”

WHAT DOES THIS HAVE TO DO WITH YOUR LIFE TODAY?

This will not be your father’s recession, or your grandfather’s depression. But what will emerge from it will be like nothing we have known – and it will be excellent.

Individuals and families are starting to be impacted in every direction. Prepare today as you should have five years ago. But never lose sight of why you came to this planet. Was it to help others through the crisis? Was it to create a new world? Was it to build your dream business? Was it to raise your family in a safe, sane, creative, loving environment?

Always reflect on what is really occurring. Don’t get lost in the fear encouraged by the nightly news. And remember that every day you have the power to make a big difference.

Sincerely,

David VanAmburg

The story of PopTech

One of my favorite conferences is PopTech, held every October in Camden, ME. It used to be that you had to be one of the lucky few thousand who paid significant money to attend and hear the excellent presentations.

In 2007, Andrew Zolli, Curator and Executive Director, and his team decided to share everything with the world at no charge. Now you can attend the conference for free as it is streamed in real time. You don’t enjoy the interaction with other participants, but you save $4,000 plus travel.

And they provide Popcasts, new videos of key presentations throughout the year. Enjoy.

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2 Responses to “Recovering Main Street & Reshuffling the World Economy”

  1. Thinking Big Works » Blog Archive » Understanding the Big Economic Picture - Debt and Money Says:

    [...] mentioned the great program, PopTech, last week. If you haven’t watched it yet, here’s another excellent presentation from the October [...]

  2. Ollie Says:

    Good post. I think it is possible to recover from depression, but it takes time and patience. I can’t find any good message boards on the net, can you recommend any?

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