Join Date: 02.02.2012
Here you are!
One cannot overspend without realizing it unless there have been a gradual decline of income for years!
In the late 1960thies in USA and the late 1970thies in Europe the economies were opened up for international expansion. Gradually capital, innovations and jobs began to seep out to the newly industrialized countries – so slow and gradually that it was not realized, resulting in the gradual buildup of the present bubble!
The scientific reasoning underlying this understanding was published 22 years ago (in Danish) with the hopeful expectation that when the public grasped the consequences the old industrialized countries would change course, especially as the theory outlined the possibility of a positive alternative development!
The English version of the treatise can be found here:
16 years ago my optimism had dried out as nobody took notice of what was happening, and consequently I predicted (in Danish) that we would experience a breakdown as the one we now are in the middle of!
In 2007 a year before the emergence of the crisis I even felt it necessary (in Danish) to warn of the risk of a third world war when the old industrialized countries realize that they will be sliding steeply down the wealth ladder!
Luckily we have not yet reached the confrontational level of development, and the possibility of turning the ship around is still present, although to turn will be much harder today than if the turning process had started 22 years ago.
The interesting thing is that Google have realized the potential of such an economic development, now they are prepared to, not only on their apps marketplace, but also on Youtube to give the content providers a share of the proceeds. What remains to be understood is that mechanism can save the Western World!