What does everyone do for work?

[Reef_Geek]

Originally Posted by Reef Pilot

That used to be the thinking. Tell that to the people in Greece or Spain right now. Doesn't look like their current cycle is going to end anytime soon. And the US might be falling into that too.

Eventually that can gets too big to keep kicking down the road. Our best hope now is China, and other Asian countries.

actually, world powers are in cycles too. I guess not so much as a repeating cycle, but more like a 'product life cycle' (think of all the different generations of video game systems, Civics, TVs etc...) where one is replaced by another. Shifts in world powers (and economic dominance) has shifted since there were societies. Former world powers like Greece/Spartans, Incas, British Empire, Spanish, French... and at present USA (since post WWII). It sure looks like China, Latin America, India are on the rise.

There's a book on this, called Ascent of Money by Niall Ferguson

Conveniently, here it is 4 hours on YouTube

http://youtu.be/4Xx_5PuLIzc