Journal Marxist Hacker 42's Journal: Is the worldwide credit market insolvent? 5
I've been laughed at elsewhere- but I'm not the only one to notice. IF the worst case scenario hits, and all of these so-called "Derivatives" being traded on the exchanges like so many hot potatoes of bad debt really ARE hot potatoes of bad debt, then the sum total of all the world's production is $30 trillion/year SHORT of even paying for the interest on these loans.
And if the United States is not able to avoid a depression, it's all about to come crashing down around our ears.
Yep. (Score:2)
That's why they want the Sec of Treas to be a Financial Dictator, without accountability or oversight. That's why both candidates support the move. That's why the R's defeated this - current bill provided TOO MUCH OVERSIGHT.
Command-and-control economy is the outcome. Troops in the streets will be the effect.
moof (Score:1)
I read your JE. I read TFA. So what is all that in English?
Re: (Score:2)
Or to put it another way- the bankers held a bloodless coup on every government in the world and are now demanding their tribute.
Re: (Score:2)
Re: (Score:2)
Oh yeah, and the governments want to give us more credit to get out of this mess- how about forgiving all the loans instead, crashing the world's economy, and starting over? Going to happen eventually, no matter what you do at this point....