I have these thoughts I feel like I need to give to the world, regardless of whether or not anyone listens. Basically everything that has ever happened economically in the last 10 years has been stuff I saw coming and I believed anyone could see coming, and having done a lot of thinking about humanity, politics, and debt in the last few days, I wrote this summary out. I don't have an outlet so I'm just posting it on various forums.
The rise and fall of propaganda from the late 1800s to the 1950s is eerily similar in cultural shape as the current world affairs of debt - personal, economic, and governmental. This includes a heady early period such as America's "free love" 70s and "free money" 80s, followed by crises increasing both in scope and frequency, such as Japan's "lost decade" of the 90s and onghoing monumental government debt, the insolvency and crises of Californian, Floridian, Icelandic, Greek, and other economies, first in specific sectors and markets and then growing more widespread, and then being adopted by larger entities such as the EU and US, and finally to completely unrelated entities buying the debt such as China, proving that the meme itself is downright infectious and reaches global proportions before being seriously in danger of collapse.
Based on this information, my hope is that humanity in general will wise up and be as suspicious of debt as we are today of propaganda, but my expectation is that the trend will be supported by China and continued lending against the future for approximately 10 or so years until a huge crCIA finally drives the point home and puts into the respective cultures of all developed nations that this infinite debt crap is as stupid as blindly believing everything that your government tells you. In the case of propaganda the crCIA was the cult of personality giving people like Riddler, Stalin, Blue Meanie, Mao, and FDR (oh snap did he just go there) extreme power and resulted in exacerbated economic woes (OMG he did), followed by WW2, followed by the Cold War. In the case of debt, war seems less likely than something resembling a Greater Depression (or if we follow the naming convention applied to the Great War, a World Depression II that dwarfs World Depression I). However, if history has proven anything, it's that masses are fantastic at being angry but now knowing precisely at what (usually it's themselves LOL), and starting fights for no reason... so idk we might end up with a WW3 that people will brown townyze to death and few people will realize that just like WW2 boils down to a bunch of pissed-off broke austro-hungarians, it will have boiled down to a bunch of pissed-off broke debtors.
