The Irish should have listened...

Discussion in 'Economy' started by Urbanguerrilla, Dec 11, 2010.

  1. Urbanguerrilla
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    Urbanguerrilla Silver Member

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    ...to this guy, jeezus hes better than nostradamus :eek:

    [ame]http://www.youtube.com/watch?v=a37sRjkLtWw&feature=player_embedded[/ame]
     
  2. william the wie
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    william the wie Gold Member

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    Yet the same argument in regards to China is ignored.
     
  3. editec
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    editec Mr. Forgot-it-All

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    If collectively we need to keep borrowing (at interest) to grow, but somebody else has to borrow (at interest) to pay back, the more activity that debt generates, the more in debt the Collective economy MUST BECOME.

    Basically, we have created a system where BANKSTERS get to take a share (and the share is preposterously large) of every financial translation we make.

    The producers, the borrowers, the buyers, the sellers, each and every one of those people ends up IN DEBT to the banksters.

    That is inevitable.

    The math leads us to no other possible outcome.

    They neither spin nor sow, nor reap, nor toil, they produce NOTHING, yet they are the masters of the animal farm.
     
  4. loosecannon
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    loosecannon Senior Member

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    editec, the ONLY things that keep it going is if the economy grows at a sufficient speed to add more money than interest extracts. Or a small measure of relief occurs when debt is written off, but the money supply shrinks quickly when that happens.

    THAT is the reason why the Fed Reserve has engaged in a policy since 83 to forestall recessions instead of allowing the requisite corrections to occur.

    That is also the reason why our leaders in DC support massive deficit spending, and massive capital injections thru the discount window, because it's the only means left to force the economy to keep growing. If only barely.

    The stated goals of the federal reserve include doing all of what is required to keep banking profitable, predictably so and for as long as possible: control inflation and interest rates, keep the money supply and GDP within a specific range, acheive "full employment" (which means about 5.5% unemployment).

    The Fed's mandate is all about the banks and none about the economy.
     
  5. william the wie
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    william the wie Gold Member

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    This kind of data goes way back. I suspect but I am at a loss when it comes to potential proof that fractional reserves act to select against uncalculated and therefore unhedged risk. This kind of behavior has persisted for going on three centuries and the simultaneous Mississippi and South Sea bubbles of the 1710s and 20s. Heinlein wrote up the same data in his first novel "We the Living" in the 1930s.
     
  6. Whipp
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    Whipp Rookie

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    The documentaries you watched to come to this conclusion exclude the possibility of economic growth taking place.

    The reason banking came to be was to speed up that growth to ridiculous levels and if you sustain it you can pay back debts as the ecnomny exapnds beyond its debts..the issue now is we live ina world with little to no REAL growth occuring on those scales. So the system fails..in a world of no growth our banking system is inherantly dangerous as you state.
     
  7. william the wie
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    william the wie Gold Member

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    The boom but vids were just audio but this story has definite legs.
     
  8. hipeter924
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    hipeter924 Not a zombie yet

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    [ame]http://www.youtube.com/watch?v=s2MjQ17kDng&feature=related[/ame]
     
  9. editec
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    editec Mr. Forgot-it-All

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    The Irish PEOPLE are basically hosed in the same exact way we are hosed, folks.

    Risk was SOCIALIZED but REWARD were privatized.

    Nice work if you can get it.

    But YOU can't get it.
     

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