Sick and tired of endless financial/economic disaster stories? Don’t despair: being in perpetual debt is nothing more than the weird but very real foundation upon which our financial system is built. Check out this 47 min Google video. I was not surprised, were you?
This blog is not affiliated with or endorsed by the city of Antwerp, Belgium.
not surprised one bit.
[Blog author: "I'm not surprised you're not surprised Van. It was and still is a really well-made movie, touching on the foundations of our financial system nobody likes talking about. The movie ends with a clear conclusion: our financial system is absolutely not sustainable in the long run.
In the mean time several of my friends have already lost their jobs, partly due to the fact U.S. companies account for approximately 15% of the total work force in Belgium, with U.S. companies heavily represented in the chemical sector, automotive assembly, and petroleum refining. If GM America goes down, so does GM Antwerp..."]
Comment by furiousball — November 10, 2008 @ 5:51 pm |
I saw this video a while back after I heard Ron Paul make some interesting statements in the early Republican debates. It’s fascinating, and confirms my common sense notion that the economy is on very unstable ground. I’m no economist, but I know math very well. Perpetual exponential growth (which is what the stock market, fractional reserve lending, and usury are built on) is not mathematically possible in a finite world. The shell game can go on for a while, but it cannot last, and will inevitably be forced to return to accurate value assessment. The only questions are how long that will take, how far the correction will be, who gets hurt, and how badly. Weimar went one route, Japan took another. Let’s hope that we don’t take a worse path.
[Blog author: "Thanks for commenting. You pointed out the basic problem: perpetual exponential growth is not mathematically possible in a finite world. Much like yourself, I hope for the best, not really sure how to brace myself for the upcoming corrections."]
Comment by Tesh — November 11, 2008 @ 1:23 am |