A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from August 23, 2011
Great Reset

The term “Great Reset” came into popular use after the 2008 financial crisis and is similar to the economic terms “Great Depression” and “Great Recession.” Richard Florida popularized the term in a February 2009 interview with The Atlantic magazine titled “The Great Reset” and in his 2010 book, The Great Reset: How New Ways of Living and Working Drive Post-Crash Prosperity,

While Florida referred to a general economic and cultural “reset” after 2008, others have viewed the “Great Reset” as a time in the near future when the U.S. dollar becomes worthless and the currency needs a “reset.”


Wikipedia: Richard Florida
Richard Florida (born 1957 in Newark, New Jersey) is an American urban studies theorist.

Richard Florida’s focus is on social and economic theory. He is currently a professor and head of the Martin Prosperity Institute at the Rotman School of Management, at the University of Toronto. He also heads a private consulting firm, the Creative Class Group.

Prof. Florida received a PhD from Columbia University in 1986. Prior to joining George Mason University’s School of Public Policy, where he spent two years, he taught at Carnegie Mellon University’s Heinz College in Pittsburgh from 1987 to 2005. He was named a Senior Editor at The Atlantic in March 2011 after serving as a correspondent for TheAtlantic.com for a year.
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The Great Reset: How New Ways of Living and Working Drive Post-Crash Prosperity, 2010. New York: HarperCollins.

The Atlantic (February 2009)
The Great Reset
Urban theorist Richard Florida explains why recession is the mother of invention.

By Conor Clarke
America’s shrinking economy has shortened everyone’s time horizons. When the Obama administration announced its plans for an $800 billion dollar stimulus package, legislators were on board with spending 75 percent of the money over the next 18 months. But the portions of the bill that are more forward-looking—like long-term investments in education and infrastructure—have proven more controversial. Who can think about laying down train tracks over the next decade when millions more jobs could be derailed by the middle of next year?

Urban theorist Richard Florida, for one, takes the longer view.

YouTube
The Great Reset
Uploaded by chorpharn on Apr 29, 2009
More at http://futuresgroup.wordpress.com/greatreset/
The Great Reset is our attempt to describe the world as it emerges from the fog of the current crisis. Specifically, we look at where and what the nature of global demand will be like. Demand is king, not supply.

Niall Fergusons describes Chimerica as the driving engine of the worlds economy. One half did the spending, one half did the saving. In all fairness, it wasnt just the US that did the spending, so did the UK, Spain and other countries now left with burst housing bubbles. Likewise, it wasnt just China that saved and accumulated huge amounts of US dollars to lend back to the USA to further fuel the cycle of Chimerica. So did Japan, Korea, Germany and the oil producing Middle East countries. But Fergusons Chimerica captured the essence of the imbalances nicely.

As these imbalances unwind, the way they unwind will send the world down several possible futures which weve termed Wounded Beast, Chasm and Abyss. Each possible future is a mixture of resource volatility, demand and political (un)stability that demands different responses and preparations. This is not a prediction of how the world will go of course, but rather something to ask yourself or your company how should I ready myself for a post-Chimerica world?

OCLC WorldCat record
Great reset.
Author: Mark Hodgins
Publisher: [S.l.] : Authorhouse, 2009
Edition/Format:  Book : English

OCLC WorldCat record
The great reset : how new ways of living and working drive post-crash prosperity
Author: Richard L Florida
Publisher: New York, NY : HarperCollins, 2010.
Edition/Format:  Book : English : 1. ed

Greg Hunter’s USAWatchdog
Currency Meltdown Coming
16 March 2011
By Greg Hunter’s USAWatchdog.com
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COMMENTS
slingshot says:
March 16, 2011 at 5:25 pm
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In my world, inflation is the beast that knocks at our door and if not checked will lead to a currency meltdown. We can call it, ” The Great Reset’, whereby a new currency is introduced and you get one new dollar, for ten of the old. I am only speaking of savings and other forms of investment might be in the wind as they are not part of the federal reserve banking institution.

Zero Hedge
Guest Post: The Great Reset
Submitted by Tyler Durden on 07/07/2011 12:16 -0400
Submitted by Charles Hugh Smith from Of Two Minds
The Great Reset
Since the Status Quo is unsustainable, there will be a Great Reset. The timing and nature of that Reset is up to us.

Yesterday I laid out why the Status Quo is financially unsustainable in The Promises That Cannot Be Kept. The unavoidable consequence of that is the the nation will experience a Great Reset in which the promises of the Savior State are relinquished, either voluntarily or involuntarily.

As I discussed in July 4, 2011: The Cycle of Dependency and the Atrophy of Self-Reliance, our reliance on the Savior State has sapped our will and confidence, and hollowed out communities that have become dependent on the Savior State and its quasi-private partners, the corporate cartels of banking, defense, healthcare and so on.

The Great Reset will thus be a great shock to everyone who has grown dependent on Big Government and global Corporate America.

An unprecedented array of interconnected trends are converging that will force a Reset not just in the economy but in the American society and culture.

King World News—Blog
July 25, 2011
Marc Faber - The “Great (Monetary) Reset” Will Destroy Cash
With gold trading strong above $1,600, today King World News interviewed one of the greats, Dr. Marc Faber, Editor and Publisher of the Gloom Boom Doom report.  When asked if there will soon be a deal on the debt ceiling in the US Faber stated, “Yes, I’m sure there will be an agreement, but it doesn’t solve the fundamental problem of excessive debt and of further, very substantial deficits. 
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When asked about the eventual monetary reset he expects and how he sees that playing out Faber had this to say, “Well when the reset comes it will be say a hundred dollar bill will be exchanged for a one dollar bill or something like this.  Before we have the Great Reset, the government they will increase the war effort under whatever excuse that will be but I think that is the likely course of action...The wealth destruction will be interesting because...the people that suffer the most before the reset happens are actually the cash holders.”

Traffick
No Ordinary Recession: How Has the Great “Reset” Affected Us So Far?
Posted August 4th, 2011 by Andrew Goodman
Nearly three years ago, I wrote a two-parter for Search Engine Land addressing the “Wall Street Meltdown” and how it would affect digital marketers in the coming years.
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That aside, the continued success of this sector isn’t inconsistent with the economy, as this is not a normal “demand slackening,” general sort of slowdown, but rather an inchoate and yet-to-be-determined reorienting of how economic and social life are organized. Richard Florida calls these episodes “Great Resets,” and posits that this is only the third such reset since the 1870’s. During the Great Depression, for example, Prof. Florida cites a wide variety of innovations and huge leaps forward in productivity that rolled out in the wake of the Roaring Twenties, as the general population retrenched into caution and often grinding poverty.

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New York CityBanking/Finance/Insurance • (0) Comments • Tuesday, August 23, 2011 • Permalink