Australian economist Professor Steve Keen warned about dangerous debt levels long before the US credit crisis hit.

http://www.abc.net.au/news/stories/2008/03/19/2194170.htm

In a well reasoned analysis of the current economic dilemma, or can we call it a crisis now, Professor Keen pointed out that at some point the level of debt cannot be increased. He also pointed out that Bernanke gained his reputation as an expert on the Great Depression of the 1930’s. Hmmmm, what was so great about it? The trouble is, this is the Depression of the 21st Century. Bernanke, like all academics, is quite brilliant at analysing, but like everyone else on this planet, he isn’t so hot at predicting.

Greenspan’s only solution to everything was to print more money and channel it into the economy as debt through his mates on Wall St who collected huge incomes along the way. Greenspan also let the banks off the leash. As I wrote in another article, ‘DUNCE, they were on a leash for a reason, Greenspan’.

Bernanke is quoted as saying that he would throw money out of helicopters to create inflation, which apparently is the cure to everything.

Professor Keen said that a radical new approach to managing the economy would probably be required. In the 1930’s that took the form of ‘The New Deal’. It was the new deal that led the US and the world out of Depression. The ‘New Deal’ as I understand it, was the Government creating deficits and spending it on infrastructure so workers could have a job which meant they could spend.

However, I would beg to differ on that point with Professor Keen. From my reading of history, it was WW11 that bought the world out of the Depression. Suddenly the banks found all the money and liquidity that was needed to build weapons of mass destruction. Where as they had not been able to find the money for around a decade to build a factory.

If we continue to follow current economic orthodoxy, WWIII will be the solution. Note how the US is trying to help out there.

http://dialecticblue.blogspot.com/

Aaah foowey to all this fiscal flubbery. The real reason for the impending recession / societal collapse and possible world war is the chronic imbalance between the demand for basic resources and the supply capability, as populations continue to grow, per-capita consumption continues to increase and our primary energy source increases in cost and dwindles in its rate of supply.

Another one who loves to live in fear and wants to drag others into his weird and scary world.

World War 111 is not on the agenda because, for the first time ever, the creeps who used to start major wars are either dead or dribbling, and any of their contemporaries know that they will not be able to escape from from a major nuculear confragaltion as the old folks could from the penny bombs used prior to Hiroshima.

This section of OLO was started as a good idea for people who had something to say they couldn't get off their chests on the main forum.

Now it is flooded with wackos.

Leigh,

"...World War 111 is not on the agenda because, for the first time ever, the creeps who used to start major wars are either dead or dribbling..."

Riiight. Read a paper.

"Now it is flooded with wackos."

Welcome aboard. Nice floaties.

DialecticBlue wrote “but like everyone else on this planet, he isn’t so hot at predicting.”

That statement was almost immediately behind you writing

“The trouble is, this is the Depression of the 21st Century.”

Such a declaration can only be made in retrospect, unless you have some infallible crystal ball which confirms the current economic hiccup will be seen as the worst thing to occur in the coming 92 years.

But, I figure, you are of this planet and thus, as you proclaim, “not so hot at predicting”.

Not many would share your assassination of Greenspan, then no one was employing you in the position he was employed in either.

“It was the new deal that led the US and the world out of Depression”

Agree, Helped along by WWII

The Marshall Plan did a reasonable job of fixing the problems which, after WWI, were a major contributory cause of WWII, following the Treaty of Versailles.

I agree with Ludwig's cryptic analysis of your post “Aaah foowey to all this fiscal flubbery.”

Leigh “This section of OLO was started as a good idea for people who had something to say they couldn't get off their chests on the main forum.”

Ah come on Leigh, diversity, trial and error and chaos theory, means a fair few dullards will manage to find this area of OLO and they are entitled to post, for their own humiliation and the amusement of many.

Don’t knock it. If you want to be really scared consider this

Half the population are below average IQ (but they still get to vote)!

If the USA decided that it should not spend on arms 15 times that spent by its nearest military rival (Israel?), it might have both an economy and a good public health service.

If "half the population is below the average IQ", then is the average IQ really average?

I've half a mind to think about that.

Romany "If "half the population is below the average IQ", then is the average IQ really average?"

I suggest you go back and think about it some more.

If "half the population is below the average IQ", then is the average IQ really average?
Posted by Romany, Thursday, 20 March 2008 2:04:19 PM

I suggest you go back and think about it some more.
Posted by Col Rouge, Thursday, 20 March 2008 2:34:11 PM

How long do we have to wait to get the right answer?

If half the population is below the average and the other half is above the average, then the average is the half-way point between the two. But it assumes that the average has been defined first, without reference to the other half that might or might not be above the average. In fact you could have 90% below the average and the remaining 10% so high in IQ above the average that the average stays where it was when the discussion started.

Right-brain stuff, that.

HenryVIII You got it.

The “average”, in a normal distribution, will be exactly in the middle, with half the population above and half below average IQ.

However what you go on to describe would require a significant skew in the distribution curve (to the point of being bizarre).

Footnote my understanding to construct of the standard IQ test is: one standard deviation is predeterminde as 15 points on the scale with 100 being the mean.

Thus an IQ of 70 = (mean - 2 SD) and

An IQ of 130 = (mean + 2 SD)

Simply put, based on a normal distribution, 95.45% of the population will have an IQ between 70 and 130.

And 2.275% of the population will be over 130.

And 2.275% of the population will be under 70.

Hope that explains it folks (but it is still a scarey thought).

Also, the average number of legs per person is less than 2. This may change after WWIII.

By the way, I see some posters talking about WW111. Aren't we getting a little ahead of ourselves? I mean, we can't even think about WW110! Unless it's binary, which is a little closer but still another 4 wars away.

I can't really see the USA starting World War 3 to boost its economy. Og there'll be wars here and there, but it'll be very one sided. Developed nation versus undeveloped nation over a matter of national interest.

However Naomi Klien has recently remarked that it used to be that when wars started the number of new yachts under construction fell, but now the number of yachts and the number of wars increase at the same time.

On the other hand the rumbling over Iran, the unstable nature of Saudi Arabia, Ethiopia and Venezuela all point towards the possibility of situation that some bright spark in the Pentagon has a military intervention for.

Mind you they have to justify it to a credulous and pliant public. Not sure the 'He's a monster, and no longer "Our" monster with WMDs will swing it. It's a difficult thing taking a democracy into a major war. I doubt the US would be in Iraq right now without those airliners.

I guess I can have my say. As to being able to get into the main forum, I did, ‘China, Tibet & Real-Politick’, where is yours? This Forum is moderated as well. DialecticBlue is the screen name, and also my Blog. Mea Culpa on one point, I should have said ‘may’ cause WWIII, not ‘will’. I certainly am not predicting WWIII, but it did get your attention. The point I was making was that the economic gurus, in my opinion (and this ‘is’ on-line ‘opinion), have and will, probably, stuff up. If they do, it will cause economic and social disruption, which, in this troubled world could spin off anywhere. As it did in the 1930’s, arguably sowing the seeds of WWII. China, if anything will be a stabilising influence

DialectBlue “but it did get your attention”

So does doggie doo, when I step in it.

Experts of every persuasion seem to, almost invariably, get it wrong

I note your opening post was a stuff-up too,

However. my greater concern are present are the climatologists who are proclaiming the end of humanity as we know it based on insufficiently tested models.

As for “The point I was making was that the economic gurus, in my opinion (and this ‘is’ on-line ‘opinion), have and will, probably, stuff up. If they do, it will cause economic and social disruption, which, in this troubled world could spin off anywhere. As it did in the 1930’s, arguably sowing the seeds of WWII. China, if anything will be a stabilising influence”

Nothing in that gives me any comfort to presume that whilst you strung a few words together, you k now the meaning of any of them or their accuracy of your predictions is any better than my pet budgie picking the numbers for tattslotto.

I just hope that this US recession doesn't bite too deep.You'll know if they do expect one here,because during the last recession Keating was denying the reality while the size of Centrelink offices were being expanded.Just note office expansion and staff increases particularily in the lower socio-economic areas.Take no notice of the pollies.

As for wars,very unlikely to be Global.Iraq must be really hurting the US.I can't see the US pulling out until they get some of their investment back.They are just in too deep.

If you want to know about WW3 just look at the Book of Revelation. Its all there. Nothing is missing. At the end China rules for a season with the kings of the east army crossing asia to Israel and north to Armageddon (Revelation 9:16 and 16:12). And there is no other nation stopping her from the great outward march. How do you think that might occur with the USA being the worlds policeman and with her relationship with Israel.

Thanks for the heads-up on Revelation, Gibo.

"And the number of the army of the horsemen were two hundred thousand thousand: and I heard the number of them." Revelation 9:16

"And the sixth angel poured out his vial upon the great river Euphrates; and the water thereof was dried up, that the way of the kings of the east might be prepared" Revelation 16:12

Nostradamus is similarly verbose on the topic.

"In the year 1999, and seven months, from the sky will come the great King of Terror. He will bring back to life the great king of the Mongols. Before and after War reigns happily" (PON, p. 417)

He reminds us of Judgment Day:

"An revolu du grand nombre septiesme
Apparoistra au temps Jeux d'Hecatombe,
Non esloigne du grand cage milliesme
Que les entres sortiront de leur tombe."

"The year has revolved to the great seventh number
It will appear in the time of the games of Hecatomb
Not far from the great age millennium
When it enters, they will come out of their tomb."

He may have been wrong about the date though.

Here he has another go, using Mabus, the third anti-christ as the marker:

"Mabus then will soon die, there will come
A horrible undoing of people and animals:
At once vengeance one will see vengeance,
One hundred hands, thirst, famine, when the comet will run."

It's a bit of a toss-up, really, which of these sources provides the more articulate, credible and convincing prediction.

They sound eerily similar though, don't they?

The difference between the Bible and nostradamus is that the Holy Spirit inspired men to write The Word. Christians know this because they have The Holy Spirit lving within. In 1963 I think it was Mao reckoned he could put 200,000,000 soldiers out anyday he wanted to. China quietly improved on the situation in the years that followed. All thats left is... get rid of America. Both of the "gang of two" that Russia and China are work on that today. The yanks know I believe. Thats why we have to pray that the USA survives and that Australia is ready.

But of course, Gibo, how silly of me.

>>The difference between the Bible and nostradamus is that the Holy Spirit inspired men to write The Word. Christians know this because they have The Holy Spirit lving within.<<

Nevertheless, you have to admit that it is remarkable how similar - Holy Spirit or no Holy Spirit - the two sets of predictions are.

How would you tell them apart, Gibo, in a blind taste test? Neither is particularly specific, after all.

I have asked this before, in a different context. Why is it so necessary that deities only converse with humans through intermediaries like Moses, Jesus or Mohammed?

Wouldn't life be so much simpler if they made themselves just a little more accessible?

China is creaking under the strain of change. You've got farmers rioting over land ownership and the urban middle classes rioting over pollution. Different parts of China speak different languages, the South has all the water and the north has all the sand.

The place is a powderkeg. Oh sure as far as short term gain is concerned it's Shangri-La but long term it's not a safe bet for stability. It's hard for me to see the Chinese army marching anywhere when they have to keep the army watching the people (with the possible exception of Eastern Siberia). Now that would be World War 3.

A blind taste test?
Well if you confess the sin to God and ask Jesus into your life as Lord and Saviour, God will send His Spirit and He will confirm the truth of The Word.
The Bible says the test of a true prophet of God is if all of his prophecies come to pass with absolute accuracy.
Nostradamus seems to have floundered in this area as I recall.
God speaks to heaps of people.
If you press Him He will speak to you.
As for the old vessels God used like Moses. He had to appear to someone, so the someone would go and do what He wanted.
Mohammed belongs to the other side.
Mohammed wasnt into a doctrine of love like Jesus. He was a false prophet and you can see it in Islams works today. He was a murderer and in one case had a woman drawn and quartered by horses. God didnt use him.
As for Jesus...He was the Son sent to die for our sins. He was the special mouthpiece. Its all to do with the shedding of blood to cover sins. The old testament animals, then the Perfect Son.

You're quite mad, aren't you?

More sane than you guys who dont know Jesus and the endtimes almost upon you. Check out signs that we are in the endtimes...and get to know The Lord through prayer. Be a terrible shock for you youngsters when the crunch comes, if youre not ready.

Gibo you are delusional.Your concept of existence does not match that of the present day educated human being.We are not scared by threats of damnation or destruction.It matters not whether Jesus existed.It is all about the development of us as individuals.You cling to powerful imaginery beings like capitalists cling to money.

Ok, I'll bite.

>>The Bible says the test of a true prophet of God is if all of his prophecies come to pass with absolute accuracy.
Nostradamus seems to have floundered in this area as I recall.<<

Tell me, Gibo, which of Nostradamus' prophecies has failed to come true?

(You'll need to provide the original language, too, not just some fruitloop's idea of what he really meant.)

[Some time later] See? Can't be done. Nostradamus is therefore in conformance with the Biblical requirements of a prophet.

So, back to the original question: how can you tell a Biblical prophecy from a Nostradamus prophecy?

Gibo's one of a number of posters who have a certain curse (or gift, depending on your view) for rebooting when presented with a glitch in reasoning.

It's quite a powerful way of dealing with contradictions to their view of the world.

I think people with the fringe views (and I mean, way, way out on the fringe) need to be able to do this when they inevitably malfunction during a rational discussion, or they wouldn't be able to hold onto those views.

Observe: at this point, he either vacates the premises, repeats what's already been said, tells us we should read the bible or some UFO nuttery that's already been discredited in other threads (provoking another one of these malfunctions) or will simply tell us he can't participate in this discussion or won't address it.

It's quite concerning really. I sometimes wonder what the source of this glitch is, and whether there's any cure. Until then, we can only point out the glaring gaps in logic and hope one takes hold.

Geez, guys, is it Lets-all-gang-up-on-Gibo Day to-day?

At least the man doesn't bluster in to every thread, informing us that god is on his side and treating everyone as if they were all slightly retarded for not seeing life through his eyes. He seems sincere in his beliefs, and theres been no evidence so far that he believes that, come the judgement day, he'll be the one standing outside like a night club bouncer, deciding who get to go in and who isn't dressed for the occasion.

So the man believes in things not of this world? Hey, some people believe that Surf really does wash whiter, too.