Collapse of the physical economy
The Federal Reserve has sent the world into such a quantitative easing frenzy that it has unleashed runaway hyperinflation, now spreading from the $1.9 quadrillion in unpayable derivatives and other financial assets to the goods sectors. production and consumption in the economy. As a result, there are drastic and growing shortages of food, energy and other essentials for human survival.
Of the approximately 8 billion people on the planet, nearly 2 billion face food insecurity this year which, if not urgently reversed, will rapidly turn into famine for almost a quarter of the world. ‘humanity. Although the sanctions imposed on Russia and the impact of the war in Ukraine have aggravated the crisis, particularly with regard to the supply of food and energy, the idea that it was caused by the war, simply ignore reality. The end of the war will not end the systemic collapse of the Western financial system.
There is no doubt that a global revolt is brewing against these economic conditions and the danger of war associated with them. Most nations in Africa, Latin America and Asia have refused to go along with the suicidal policy of sanctions against Russia, and even the European Union is struggling to reach consensus on the issue.
Another strong indication of the deep concern that is mounting over the dangers facing humanity, in particular, is that of a world war.
Such effervescence is a necessary, but not sufficient, condition for the advent of the required new global paradigm.
Because even if we obtain a negotiated solution for Ukraine, which is absolutely necessary there, even if it were to succeed, we would not be out of the woods. For it is the threat of a hyperinflationary explosion of the financial system, which is the real locomotive of the danger of war. Rather than reform and recognize that the neoliberal system is finished, they would rather go to war than accept their losses.
Therefore, until we get to the underlying reason, which is the collapse of the financial system, there will be no solution to the problems. A proposal to create an international security and development architecture is the only solution. And that, of course, begs the big question: Is there any hope of getting the United States to change course?