Sit yourself down. Have a drink…

Dimity Orlov's speculative assessment of the economic crisis (link comes via EconoSpeak):

The title of this talk is a bit of a mouthful, but what I want to say can be summed up in simpler words: we all have to prepare for life without much money, where imported goods are scarce, and where people have to provide for their own needs, and those of their immediate neighbours. I will take as my point of departure the unfolding collapse of the global economy, and discuss what might come next. It started with the collapse of the financial markets last year, and is now resulting in unprecedented decreases in the volumes of international trade. These developments are also starting to affect the political stability of various countries around the world. A few governments have already collapsed, others may be on their way, and before too long we may find our maps redrawn in dramatic ways.

His preferred and feasible path, one that should enable the species to manage the darkness to come: Small, local and self-sufficient are beautiful and can effectively address the development problems humanity will face once the global economy implodes.

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