Didier Sornette has some great stuff out now. See his Ted talk and this white paper, “The Illusion of the Perpetual Money Machine,” in which he he pretty well demolishes the con game that the economics profession—slave to Wall Street—has been playing at the great expense of the people of the world. I’ve written previously about the faster than exponential growth theory of singularities, financial and otherwise (see here).
The bad debt will be cleared. Sornette indicates that his models show that the anticipated phase transition out of the growth era, originally forecast for 2030-2060 in his work with Johansen, has begun.
Andrew Jackson’s last words before dying were, “I killed the Bank!”
Where is our Andrew Jackson?