Hi Graham,

Both you and the article are spot on.

I'll only add the speculation, everbody expects, by the corporations and the wealthy who can, will be pretty well confined to firstly currencies and then mined resources. The resources and their ownership will become the basis of wealth once the fluctuations of currencies declines as inflation(Hyper) takes over. Share certificates and banknotes will become more worthless than paper as will superanuation schemes which are based on them.

Right now I'd support some reregulation of the banks and of pricing control of essential resources such as power, water, petrol and diesel

Steve, the three crises you mention are actually all the same and that is to be expected. All the 'crises' are generated by the dysfunctional nature of the dominant expert advice.

In each of the three, Climate Change, Peak Oil and the Economic and Financial Crises, the conventional wisdom is leading us on the wrong path. The reason is that each has become an impure science driven by emotion not dispassionate, factual science.

In each of the three we have ideologically driven social movements corrupting logical processes. In each, the non-conventional wisdom is suppressed and unsurprisingly all three are ultimately about the control of power and money.

All three are social movements masquerading as Science.

rexw,Steve Keen is on our side but not as straight forward in calling a spade a shovel.You may have read the works of Ellen Brown about the evils of the US Federal Reserve.Prior 1913 the the US Congress created and issued all the new currency in the USA.We have never had that priviledge.Mostly we've been tied to the British monetary creation system in which private banks create all our new money.In 1914 in the USA they brought in the income tax act to pay for the debt owed to the Private Federal Reserve.

We used to have 4 State banks + the Commonwealth that took some of the pressure off and allowed us to build some of our infrastructure debt free.Now the debt devil has us well and good.30% of our mortgage money is borrowed OS.Our total debt went from 3% of GDP in 1970, to now over 53% of GDP today.Our terms of trade has always been good but we now borrow our increases in productivity into existance via debt to private banks.So the more productive we are,the more debt we incur.

Notice that the inflation rate and increases in GDP are nearly always the same.In our system inflation must exist in order to keep enough money in our economy for it to function.The bankings system is milking our economy so fast of cash,we need inflation to keep it functioning.Here's the twist.Even the inflationary money gets expressed as debt.So we are constantly on a treadmill working longer and faster until it all collapses.

no comment...

just a sentiment...

http://www.theonion.com/articles/last-american-who-knew-what-the-f###-he-was-doing,26268/

sam
(thought police requested I re-edit the 'f---' though thats the title of the article...so youll have to fill in the blanks...