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The Forum > Article Comments > Where’s the big debate we really need on the economy? > Comments

Where’s the big debate we really need on the economy? : Comments

By Brian McGavin, published 23/4/2009

Where is the choice and fresh thinking from our leaders? The electorate deserves more than bailing out bankrupt politicians and bankers.

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“It is extraordinary that despite warnings from the UK Government's own advisory body the Sustainable Development Commission, in its new report, Prosperity without Growth? published immediately before the G20 summit, hosted by British Prime Minister Gordon Brown, world leaders were more intent on spending billions they haven't got to restore business as usual rather than listening to new ideas.”

Extraordinary indeed. In fact, it is critically bad!

We’ve reached a critical point in the history of humanity where we absolutely need to wean ourselves off of an economic system that is based on continuous expansionism and onto one that is essentially based on a steady state, where all economic growth is attributable to improvements in technology and resource-use efficiency rather than ever-greater rates of plundering of natural resources and the endless promotion of population growth in order to create ever-bigger markets and economic turnover.

The mistake being made by Brown, Rudd and the rest will likely go down in history as the biggest ever mistake of humanity. They’re trying to restore the expansion-based economy when it is so utterly obvious that it all needs to change at a very fundamental level.

There can only be one ending to an economic system predicated on never-ending expansionism in a finite world where resource and environmental stresses are becoming extremely serious, and that is an almighty crash.

They’ll probably be successful in restoring the current economic paradigm to a fair extent….for a while…until the next, and much bigger, collapse.

Where’s the big debate we really need on the economy?

Nowhere to be seen. Or at least not where it is going to count for anything.
Posted by Ludwig, Thursday, 23 April 2009 9:48:52 AM
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I would suggest that before anyone starts debating the future of the economy and everything else too they should become throughly acquainted with this website.

http://www.chrismartenson.com

The author of which HAS done his homework.
Posted by Ho Hum, Thursday, 23 April 2009 10:16:06 AM
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I second the Chris Martenison reference. The "crash course" clearly explains the system and the inevitable results with no hype or politics.
It is about time the banking system was reigned in by governments. Money is too important to be used for profiteering. the money supply cannot be endlessly expended at the same time as productive enterprise is reduced. And of course...we cannot have endless growth by trashing ecosystems.
Time for a new crop of economic journalists ready to cry "Bulls*#$" when a banker speaks up to protect obscene profits, or another wealthy businessman is revealed to pay less tax than the average worker.
Time to clean the economy of useless parasites: Let banks and insurance companies fail, or mandate zero profits until they can operate without taxpayer or reserve bank handouts.
Also, why is the cost of money so low right now? Isn't cash scarce? Shouldn't the price go *up* during scarcity? Just goes to show how warped the money market is and how "too big to fail" distorts the system. Taxpayers are paying for the free money market and *still* that market is being lauded as the only way forward by all and sundry.
Law of the jungle is not a good option when all the continents are full of humans.
Careful guys, social unrest is not far away when this sort of contempt is shown by the elite.
Posted by Ozandy, Thursday, 23 April 2009 11:19:31 AM
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Ludwig
http://www.lewrockwell.com/blog/lewrw/archives/026448.html

Ozandy
"why is the cost of money so low right now?"

Because government keeps lowering interest rates?

"Just goes to show how warped the money market is"
by monetary policy.

"and how "too big to fail" distorts the system.

You are right. Too big to fail is complete crapola and nothing but a conspiracy between big banks and government to rip off everyone else.

"Taxpayers are paying for the free money market..."

If taxpayers are paying for it then by definition it is not a free money market. It is a government monopoly of money supply that your criticism should be directed at.

"and *still* that market is being lauded as the only way forward by all and sundry."

all and sundry are calling for more of what caused the problem in the first place: state-worshipping solutions for government to "do something" by manipulating the money supply. Presumably people become super-human beings and understand how every transaction in the world should be managed by getting a job in a government office. Pure fiction
Posted by Wing Ah Ling, Thursday, 23 April 2009 11:50:10 AM
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What we need is more IMF cyber money.This will dilute the losses of the corporate elites,destroy the value of worthwhile assets of the middle class ,then those with the stolen capital can buy up these assets at bargain basement prices.

This is the reality that the Reserve Banking systems of the world operate in.So don't be surprised when hyper-inflation kicks in destroyng both your savings and jobs.
Posted by Arjay, Thursday, 23 April 2009 9:38:08 PM
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