Tuesday, August 04, 2009



Jeremy Leggett: Another crunch is coming – but will the world act?

There is one major similarity between the energy crisis and the financial crisis and one main difference. These two things tell us a lot about the role of cultures in how our modern version of capitalism plays out.

The similarity is that we are dealing with two massive global industries who have their asset assessment systemically, and roundly, wrong. The difference is that few people and organisations warned about the credit crunch as it approached, where as with the oil crunch, a host of people – many in and around the oil industry – are shouting a warning, and so to are a few good organisations concerned companies span British industry.

... the second is the effect of the first ...
... the capitalistic model is obsolete as much as the socialist model ...
... the industrial revolution will become the industrial devolution ...
... there wont be a solution until paper money will be worth its intrinsec value ...
... planetwise ...
... more or less as much as toelette paper ...
... then we can look at barter economy and gold standard again ...
... we are trending towards a pre industrial revolution society ...
... the end of monopoli currency ...


# posted by intcoex : 1:13 AM




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