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11/29/2011

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Mr. Roboto

Back in the ancient Mediterranian world, once-in-human-lifetime mass debt-forgivenesses were a common thing. The ancient people of Israel called them "Jubilees". The reason they had them was to avoid a situation where a tiny elite owned everything and the rest of the population had absolutely nothing. I think we're about to find out the hard way why our ancient forbearers found Jubilees so very socially necessary.

sharonsj

Debt is increasing because of price inflation. I went to the local grocery and bought ice cream and maple syrup and the cost for just two items came to over $11. Well, I'm not doing that again....

Perhaps the billions the Fed gave to the banks is funny money, so that the value of our dollars keeps going down. At this rate, we'll be heading towards the Weinar Republic, where it took a wheelbarrow full of money just to buy a loaf of bread.

sharonsj

That's Weimar Republic; sorry for the typo.

Don Levit

The figures were not broken down between interest and principal.
I would think the interest growth would be far higher than the principal reduction.
Don Levit

AlT

It is so sad to see that the "best" among economists is Steeve Keen who clearly is intelligent but does not see that all his intellectual work is useless because he is trying to mend unmendable and fit the square peg into a round hole (even if his peg is less square than the less radical economists it is still square)

And of course Sarah montague embodies the militant opinionating ignorance that simply regurgitates the garbage opinions circulating in the see of the goo of institutionalized ignorance.

This is why all attempts at producing a "silver bullet" will be failures.

We need _SEED GROUP OF BELIEF-FREE SCIENTISTS_ that will take it upon themselves to understand the evolutionary dynamics that govern evolution of democracy and capitaslism and begin acting towards _institutionalization_ of the thinking that embodies the process of evolution.

Revolutions do not work. Especially revolutions in the absence of adequate knowledge. Given that the complexity is increasing faster than we can understand it only operational protocal that institutionalizes scientific method can narrow the gap and give us _a possibility_ of effective and sustainable societal organization.

Anything less than that is just swimming against the wave of evolution that is happening regardless of whether we understand it or not.

John Theodorou

You weren't ever meant to get ahead. Didn't you know? Inflation, just another byword for central bank.

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