A couple of decades ago deficit funding was the norm. Only an idiot shied away from taking a loan. After all, banks make their money through the interest on their loans. Easy credit, loadasmoney. Spend spend spend.
Which is how peeps with bipolar disorder behave. Until they get depressed, when they have delusions of poverty.
Which suggests that the conventional global economy has bipolar disorder. Look at it that way, and the patterns fall into place.
Given that it is impossible to put all the market traders on mood stabilising drugs, the only possibility is reality therapy. Economics has to be seen, not as the resultant of summated market sentiment, but as the way we humans create a stable way of living in a real, fragile and finite natural world. This requires a rethinking of economics, transforming it into an ecological discipline.
Energy is the key, given that it is the engine of the modern world economy. It is beyond reasonable doubt that we need to make the transition from fossil fuel capital to the energy income that comes to us from the sun. We have the blueprint for this transition in the HVCD supergrid concept. Realising this supergrid will deliver a massive stimulus to the world economy that is needed to power us out of this recession.