Book: Global Economic Boom & Bust Cycles - The Great Depression and Recovery of the 21st Century by Khafra K Om-Ra-Seti
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Khafra K Om-Ra-Setiabout this book: For over two decades, author Khafra K Om-Ra-Seti has been closely following many of the issues discussed in "Global Economic Boom & Bust Cycles". As a self-proclaimed futurist and economic thinker, Khafra sees a world bordering on economic calamity but also understands that our world has the technological genius to create the conditions for a massive transformation after a period of purgatory. In biblical terms, the author informs us, "No one knows the hour or the day when the final reckoning will begin." The central thesis of this book is to examine the power and massive influence of Boom and Bust Cycles on a global scale; a parallel mission is to also examine elements, technologies and systems that will give rise to a new era during our next recovery phase. Khafra’s economic philosophy proclaims that our civilization has arrived at the end of the Age of Oil, and that governments, corporations and institutions should (in 2012) be actively engaged in a “transition process and period” of withdrawal from this depleting and environmentally destructive resource. The clean energy and green revolution is the wave of the future and that, from an energy perspective, is the paradigm shift we must make in the 21st century.
In reference to America, the coming of Barack Obama heralded the birth of a new era and a president who understands and appreciates the grand significance of the Information Age Revolution and the mission of clean energy: The birth of the Obama era in support of renewable energy followed the decline and collapse of the Bush era and the Age of Oil. He understands the reality of global warming and that this civilization must now begin to break its addiction to oil. This book examines the end of the Age of Oil and the next recovery phase, and it’s very clear that the Information Age Revolution (that includes green technology) is the wave of the future. Obama was swept into office to begin a new era in the American economic journey; a dynamic era of change with substance and commitment to bold new economic, technological and social initiatives. When President Obama took office in January 2009, his administration had to hit the ground running with a new economic agenda and the beginning phase of an energy efficient future, for the American economy was rapidly descending into a deep abyss of economic chaos: the first phase of the Great Depression of the 21st Century.
In the Meltdown of 2008 the world was presented with enormous economic and financial devastation on par with the Great Depression of the 1930s. The recession (labeled the Great Recession) was considered a typical “garden-variety recession,” and it was declared over in June of 2009. It was expected at that point that the U.S. economy would be in a full recovery mode. However, my analysis confirm that in the massive meltdown of 2008 we entered the first phase of the Great Depression of the 21st Century and, by 2012, the global economy was still struggling to avoid the second phase of this great economic decline. What the Obama Era did was to stop the collapse into the abyss of the second phase of the Great Depression, and with the Recovery Act of 2009, made a substantial down payment on the clean energy revolution in America.
This book presents five case studies of boom and bust cycles, providing chronicles of the events as they happened. The reader is presented with significant factors that gave rise to the boom periods and the subsequent bust declines. The author makes the case that the journey traveled through these boom and bust periods helps us to better understand the historical paradigm that now dominates the global economic system. What emerges from the historical data examined over the past century and what forms the foundation of much of Khafra's thesis is what he calls the Grand Convergence, the confluence of a diversity of economic forces bringing about a manifestation of creative destruction and global economic revision.
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