How Breakdown Cascades Into Collapse

Desultory Heroics

By Charles Hugh Smith

Source: Of Two Minds

Maintaining the illusion of confidence, permanence and stability serves the interests of those benefiting from the bubbles and those who prefer the safety of the herd, even as the herd thunders toward the precipice.

The misconception that collapse is anall or nothing phenomenonis common:Either the system rights itself with a bit of money-printing and rah-rah or it collapses into post-industrial ruin and gangs are battling over the last stash of canned beans.

Neither scenario considers the fragility and resilience of the socio-economic system as a whole.It is both far more fragile than the believers in the permanence of thewaste is growthmodel grasp and more resilient than thecomplete collapseprognosticators grasp.

The recent relatively mild logjams in global supply chains of essentials are mere glimpses of precariously fragile delivery-supply systems.These can be understood as bottlenecks…

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