The below link will take you to an excellent article on what is likely around the next bend of the river for us all. My own comment follows below. Enjoy and please comment even if you think I'm all wet.
As the worlds governments, wherever they may be increasingly detect emptiness of the cupboard syndrome, what are their options? Borrow by issuing govt bonds which almost no one wants because interest rates are near zero. Print extra dollars which are quickly absorbed by the well-established elite corporate class and result in rapid and possibly uncontrollable inflation for the masses?. Or hey! They could simply raise taxes! Almost forgot that one. But as this great article points out, where will this "new" money come from? It will come from the products we are now unable to buy because our disposable incomes are reduced.
To symbolize if I may and please forgive the shifting metaphor: Think of a full river flowing along normally representing the normal flow of goods and services. Along comes Big Government and diverts a portion for their purposes. This works for awhile until their promises to each other (pensions, maternity leave, etc) become too great. Eventually when the entire flow of goods and services has been diverted what we have is a totalitarian govt. With absolute authority over the useable-product- producing working class. The problem with this is that the workers aren't being rewarded for their production as they normally would in a free market and understandably rebel. Production s l o w s.
Now we are left with the following option: force, threats and violence to make them work so the river can continue delivering all its goods to those in authority.
If this is not done, the production of goods will slow until it virtually stops, leaving stomachs empty, even the stomachs connected to the hands holding contractual pension plan promises.
What to do about it? Assuming crash position is one idea. Re-diverting the river back to its original channel is yet another. In any event, we can all be sure of this: Eventually reality will rear its head... Ironically, it may be the homeless who be in the best position to deal with the future the central banks are creating for us all. They are used to living within their means after all!