09:53 – I try not to pay attention to the economic news nowadays. It’s just too depressing. Europe is beyond salvaging, with the PIIGS in worse shape than ever, France going quickly down the tubes, and even Germany starting to show cracks in its foundation. The UK isn’t much better off, and would now be a basket case had it been foolish enough to join the euro. We’re watching as China and the rest of the BRICS implode, and Japan under Abenomics has lit a fuze that will almost certainly lead to the destruction of its economy.
Among major first-world nations, only the English-speaking trio of the US, Canada, and Australia seem likely to get through this mess, albeit not unscathed, and it’s no thanks to their politicians. And I have my doubts even about Australia, which has allowed itself to become far too closely linked to China’s tanking economy. Ah, well. As I’ve said before, the US and Canada can produce everything we need, so I think it’s unlikely that things will get really bad here. As for the rest of the world, I fear that the next five to ten years will see increasing poverty, rioting, revolutions, and wars. And there’s not a thing we can do about it other than get used to a lower standard of living and isolate ourselves as much as possible from the rest of the world.