Only puny secrets need protection. Big discoveries are protected by public incredulity. (M. McLuhan) April 20, 2008Posted by olvidadorio in Economics.
I don’t quite agree with (or even fully follow) a few thrusts that are developed (specifically the whole business about right-out government-created money, i believe ripple offers a much better, IOU-based model), also it has been criticized that the film bluntly underplays the role that respending of interest on behalf of banks/shareholders plays to avoid money shortage, but the beginning is just right on.
But how far corrupted is the system really? I believe the fundamental problem about necessary growth is quite ingrained. I don’t think that anyone (I know of) really has a good idea of how far down the tubes our economic system may be. I dare say it’s a fair guess that it won’t be going on forever, but it doesn’t look as if it all’l be grinding to a stand-still any time soon, either.
So if there’s a risk ahead, it’s really important to get a clear idea of its “shape & texture”. What this all boils down to: “In my lifetime?” – possibly. “In my kids’ lifetime?” i’d say: quite possible. I’m 24 now – and my children will live through the big oil crisis and what not. I guess it’ll start during my lifetime, even my active lifetime.
What do you guys think?