|
U-Know! Forum » The financial system - it's completely fucked, isn't it? |
Log In to post a reply
|
|
|
|
| Topic View: Flat | Threaded | |
stray 2057 posts |
Feb 18, 2009, 16:43
|
||
|
No I agree, short of a proper international communist system it's probably the best appproach. However, it could possibly slip back to Mercantilism and a whole heap of resource grabbing wars. The result of the way the market has grown means we're all pretty much interdependent so true protectionism would require a nightmarish web of international contracts so that each nations internal market could actually function (or at least transition itself safely). Still, it's reasonable. I actually see something like this happening, but I see it happening at great expense to smaller (economically) nations.
|
|||
Eduardo 375 posts |
Feb 19, 2009, 12:50
|
||
I read somewhere (not sure where, so maybe just tittle-tattle!) that 4 of the world's 10 biggest economies are corporations, not countries. Not right for such power to be in the hands of entities whose prime reason for being is profit.
|
|||
|
Eduardo 375 posts |
Feb 19, 2009, 13:38
|
||
|
Beg pardon - it's 8 out of 10, not 4. According to Paul Kingsnorth in 1999: "Eight of the ten biggest economies on Earth are now not nation states but corporations - accountable to nobody but their shareholders for what they do to people and the planet. The drive to expand the global market into all corners of the Earth is accelerating, regardless of the consequences - further widening the gap between rich and poor, and deliberately destroying self-sufficient and sustainable lifestyles in the drive to make a consumer out of everybody of Earth." http://www.paulkingsnorth.net/attachment.html
|
|||
Littlestone 5386 posts |
Feb 22, 2009, 15:16
|
||
|
TheBear wrote: Right I'm getting officially scared now. I know this piece is from the Telegraph but.... : http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/4623525/Failure-to-save-East-Europe-will-lead-to-worldwide-meltdown.html The mess is so bad our useless so-called leaders are going to lower interest rates to zero... hello global hyperinflation (((shudder))) http://en.wikipedia.org/wiki/Hyperinflation Stock up on beans people! :( Gary and Smokey saw it coming yonks ago - "In some future time, there will be a continent called America. It will have great centers of power called such as Pyramid Lake, Walden Pond, Mt. Rainier, Big Sur, Everglades, and so forth; and powerful nerves and channels such as Columbia River, Mississippi River, and Grand Canyon. The human race in that era will get into troubles all over its head, and practically wreck everything in spite of its own strong intelligent Buddha-nature." http://www.sacred-texts.com/bud/bear.htm
|
|||
TheBear 981 posts |
Edited Feb 24, 2009, 11:25
Feb 24, 2009, 11:13
|
||
|
Liam Halligan (why isn't he still on Channel 4 news?): Why are our so-called leaders creating deflationary fears? As an excuse for grabbing monetary policy back off the Bank of England and nailing interest rates to the floor, while junking fiscal caution and borrowing in a fashion akin to that of a banana republic. Our historically ignorant politicians – and their pliable, time-serving technicians – have responded to the credit crunch by avoiding the real issues. Using "deflation" as an alibi, they've taken the line of least resistance. Now, in a final desperate throw of the dice, we're seeing "quantitative easing" – in other words, "printing money". How will this ridiculous policy help? Have we learnt nothing from Zimbabwe, Argentina or the Weimar Republic? The huge inflationary dangers of "QE" are obvious – in particular alongside massive government borrowing, a tumbling currency and repeated interest rate cuts. Continues: http://www.telegraph.co.uk/comment/personal-view/4742855/Inflation-is-the-greatest-danger-to-the-British-economy.html
|
|||
|
stray 2057 posts |
Edited Feb 24, 2009, 19:09
Feb 24, 2009, 19:01
|
||
|
Thanks for the link. I was worried that I had gone insane, missed something, or both, in my own OMFG WHAT!? response to the idea of 'Quantitive easing'. Its very reassuring to see the same concerns I have about it being spoken by someone who definitely knows whats going on. I've just finished reading Paul Virilio's collection of essays 'The Information Bomb', a lot of what he says is well, silly, and mostly undereducated in the matters that he's addressing, but he does seem to predict this crisis ten years prior to it. Well, he doesn't directly predict it, in fact he argues that changes made to 'program trading' (trading being performed by systems automatically. I was at some of them meetings btw) were required to short circuit the system in order to stop it running into global chaos once a crash happened. Erm.. nope, this situation was not a result of automatic trading, you could argue a lack of such procedures made it more likely. 20/20 Hindsight, etc. No, what he correctly identifies, which is responsible for this situation, is an increasing dislocation between the real physical world, with it's geographical and time space constraints, and the virtual world which has no such constraints. The world market now inhabits this virtual world completely. I don't see any possibility of rationalising our virtual space world, in how it functions, to prevent this mutual destruction from happening. The more I think about it, the more I see that this crisis is the natural conclusion of the wholesale virtualisation of the world economy. That's what globalisation actually is, it is the destruction of the real. So in a virtual environment, which is a truly no-limit environment, its only a matter of time before it bangs up against the real environment and its limits. So, I'm sticking with my original idea of solving things, creating many smaller secondary markets that function in a wholly independent sense to the massively fucked market, and in some ways also independent of each other. The small, geographically localised, credit union model for one. The economy is nothing more now than an idea, a virtual representation that is more important (in fact it disregards in order to function efficiently, as in function at the same light speed of its medium) than any reality it claims to be a representation of. We need the limitations of geography and time back please. We really, really don't want to be working in a no limit environment that has become so arbitrary we can recreate the intrinsic value of things based on whims and the personal agendas of a few. Edit : Oh, and can every trader please stop running to buy Gold, it isn't helping.
|
|||
|
Moon Cat 9577 posts |
Feb 25, 2009, 15:38
|
||
|
stray wrote: T Edit : Oh, and can every trader please stop running to buy Gold, it isn't helping. You know this much is True. arf.
|
|||
|
JasonJones 1 posts |
Mar 03, 2020, 06:29
|
||
Inflation is kind of a constant thing that couldn't be solved by the government as this is happening due to some of the reasons like the population, increased money supply and much more and nowadays the banks are also increasing the interest structure on the different types of debt available which should be measured.
|
|||
Howburn Digger 986 posts |
Mar 31, 2020, 19:41
|
||
Looks like they've found a mechanism for hitting the Financial Reset Button. Because THAT is what THIS is.
|
|||
|
Amil04 447 posts |
Apr 01, 2020, 19:15
|
||
|
Wild?..I’m fucking livid. I can’t believe there isn’t more discussion on this.
|
| Pages: 4 – [ Previous | 1 2 3 4 | Next ] | Add a reply to this topic |
|
|
|
| U-Know! Forum Index | |
