[Ruffian]

I caught part of this on radio yesterday.

It's about the 'financialisation' of Western culture in the past few years, and the likely consequences.

It's well worth a listen.

http://www.abc.net.a...e=conversations

[wulfgar]

Not bad, but a little misleading as well.

Das is almost claiming it is built on nothing. This is very misleading, international finance requires some real growth as a smokescreen. The trick is not selling nothing for something.........it is selling something for more than it is really worth and hoping nobody notices the con.

The real growth post WW2 was oil production doubling each decade.......that growth slowed in the 70's and fomented a crisis. What's the crisis?.....the smokescreen was gone!

With the 80's we returned real growth with the home/computer, but furthermore the trick was borrowing from the second world where the great growth really was.

Without "growth" finance is doomed!!! Why no smokescreen, I remind you the trick is selling the growth for much more than it is worth..............because even the stupid can see when they are paying for nothing!

[staringclown]

Ruffian, on 30 January 2012 - 10:36 PM, said:

I caught part of this on radio yesterday.

It's about the 'financialisation' of Western culture in the past few years, and the likely consequences.

It's well worth a listen.

http://www.abc.net.a...e=conversations

Great conversation. Thanks R.