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read the first couple of paragraphs and you'll see what i mean
firstly because there are no '......'s
secondly because because ........I do understand, not according to this 'equation' but due to the 'modelling' that I have been running, many many many times and with the possible variations (with all the shades in filled in by a kind of 'fuzzy logic').
"I stumbled out into the autumn sunshine, figures ricocheting around my head, still trying to absorb what I had heard. I felt as if I had just attended a funeral: a funeral at which all of us got buried. I cannot claim to have understood everything in the lecture: Sonnenschein-Mantel-Debreu theory and the 41-line differential equation were approximately 15.8 metres over my head. But the points I grasped were clear enough. We're stuffed: stuffed to a degree that scarcely anyone yet appreciates."
obviously finds that what he has heard certainly seems to fit according to what his head can accomodate as a concept, but obviously has this as a new, and as yet not fully mapped set of ideas in his head.
instead, Keen says, the key to averting or curtailing a second Great Depression is to reduce the levels of private debt, through a unilateral write-off, or jubilee. The irresponsible loans the banks made should not be honoured. This will mean taking many banks into receivership. Otherwise private debt will sort itself out by traditional means: mass bankruptcy, which will generate an even greater crisis.
singular politicians and financers to admit to the true nature of the problem and the unheard of solutions....it would be far more difficult to get the consensus to agree to this, not least because even if certain individuals can be peruaded, it is not likely that they would be the first to put their heads above the parapet amongst their peers.
If they realise that Keen is not quite right about one thing.............................that this is potentially a whole lot worse than the great depression....he is remaining a conventionalist on this one point......he is almost taking the great depression as a ground zero......it is not.....it can be worse
i'm still not totally ruling out warfare.
not necessarily WW3, but perhaps a niggling series of conflicts that have a more direct effect on our daily lives than anything since WW2.
Monbiot is catching up
terrifying stuff though
I'm gonna spend all my savings before they become worthless - what should I spend it on, creaky?
Spend it all on creaky.
never satisfied. always after more trinkets. spend it all on creaky.
....that and some night vision equipment (which I didnt get for my birthday)...although its nearly at the point when it would be personally wise (although socially irresponsible) to start procuring weaponry
Like slowly watching a nightmare you've been having seep into your waking life.
or my rantings are the nightmare?
There is a better way to do things and that is to write off the personal debt.......of course things will then also have to be done differently, we can not pretend to go back to the old system, it will be a whole brave new world
but governments don't make bold moves any more. Govts feel that sudden moves will scare markets away. The financial markets are like a horse or something - you have to approach slowly from the front so as not to scare it.
There won't be any solution to the crisis until the immediate consequence of not acting is more dire than the prospect of seriously upsetting financial markets.
but George Osborne can give a speech to their conference stating that our ability to act is limited by having to please the markets, without any similar concern for the democratic restriction this implies.
could be one of helplessness:
"we inherited a bad situation"
"we are locked in to this contract for aircraft carriers and cannot get out of it"
"we cannot give train contracts to UK firms as we are bound by EU competition law"
"doing nothing (on the NHS) is not an option"
"we have to impose austerity to regain the confidence of markets"
now......not when they are upon us....the problem is they are reluctant to go out on a limb into unprecedented territory, with 'no turning back' untill the consequences hit them full in the face (by which time it will be too late).....the democracies basically, need to get coalitions of all and fill them in so that they are not reluctant to act and risk their positions.
for a year get rid of tax and interest. just see what happens. i think people will be buying stuff like wanno and it'll be real fresh.
Let's give the banks more pretend money and see what happens. Again.
(including small businesses)
and other debts, I will examine this idea over the next week to work out what sort of ones
i'm scared. another recession would probably kill the company i work for. and if it's more serious than that... which looks extremely possible...