Knock the cherry off the top!

Verb Retrench: ( Tighten one’s belt; use resources carefully conserve, economise.) – Wordweb

In Jane Austin’s novel Persuasion, Sir Walter Elliot of Kellynch Hall, had beggared his estates by over -indulgent living, huge outlay of monies, and was forced to make a quick shift to smaller and cheaper accommodations in the City of Bath. His old home had to be rented to someone who could afford it.
Dowager Duchesses by the dozen in Georgian and Victorian novels were always in a perpetual state of retrenchment, the result of living well beyond their means, and few had little chance of being bailed out by anyone.The collapse of the real aristocracy can be partly thought of as a failed opportunity to pull in the horns and live more simply.
It took about twenty years after WW II for the postwar recovery to get going, and when it did, the western nations and their affiliates went on a flying binge and have been living in a style unheard of before. The real difference was that significant wealth reached down into the poorer classes, people who, in times past, would never have expected any improvement in their circumstances.
Hang on to the word retrench, because before too long we might well be hearing a great deal about it.
Steady, gentle growth with no, or very little incurred debt is what business should be all about, but that is not what has happened, mainly because money was separated from the value of goods and labour, and was allowed to float and find its own way in any number of financial devices.
Credit cards opened the way for spending in an unprecedented manner; great benefits were achieved, but so were unsecured debts which had nothing to underwrite them, except time and a lot of hope.
What have we achieved then for being allowed so much rope?
For a while things didn’t look too bad, but lately it is perfectly obvious that most nations are floating on air, with nothing under them except a thick wad of debt paper. The huge company conglomerates are not in much better condition, underwriting their over-large projects with promissory notes of dubious legality. They too also hope for time and great deal of luck, no doubt, to get away with it.
The unprincipled and illegal use of borrowed monies, with easy access to staggeringly large sums of money, the interest on unpaid debt, individual, corporate and national, has created a vast monetary trench indeed, so large it’s possible it cannot be filled in any lifetime.
I believe the rash of resource plundering going on right now is to pay off debt, not furnish the peoples of the world with a decent living.
So where from here? When a balloon gets too big it bursts, leaving the person holding it with the knotted stump, not much to do with that, so forget it.
Start all over again, think about the simple, relatively honest way of doings things that Grannies like me can remember, when a penny was a penny, and if you had one, this was good, but if not, you went out to earn it. The idea of borrowing was never considered.
Won’t be easy, we’ve all signed an awful lot of paper that says we own money to someone, but with care that situation can be turned around. Let’s hope for time to do it.

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