The End of Growth
Either it ends, or we do
by Chris Martenson
23 June, 2018
More and more, I hear that folks are feeling frustrated and betrayed, combined with a sense of loss and despair. I feel this way, too.
Narrative #1: Growth is Always Good, More Growth Is Always Better
China’s gross domestic product grew 6.9 per cent last year, Premier Li Keqiang told a regional meeting in Cambodia last week. “The overall situation was better than expected,” he said.
Mr Li’s estimate is higher than the 6.7 per cent growth reported for 2016 but the real recovery has been sharper. Corporate results are rosy, commodity imports are hitting new records and producer prices have shifted back to steady gains, signifying better industrial health.
So why will Thursday’s 2017 GDP figures not reflect the good news?
Narrative #2: Growth Is Now The Enemy
Rather than a depressive disorder, demoralization is a type of existential disorder associated with the breakdown of a person’s ‘cognitive map’. It is an overarching psycho-spiritual crisis in which victims feel generally disoriented and unable to locate meaning, purpose or sources of need fulfilment.
The world loses its credibility, and former beliefs and convictions dissolve into doubt, uncertainty and loss of direction.
Frustration, anger and bitterness are usual accompaniments, as well as an underlying sense of being part of a lost cause or losing battle. The label ‘existential depression’ is not appropriate since, unlike most forms of depression, demoralization is a realistic response to the circumstances impinging on the person’s life.