The Mudcat Café TM
Thread #145893   Message #3375985
Posted By: Songwronger
13-Jul-12 - 10:17 PM
Thread Name: BS: Global Financial Collapse
Subject: BS: Global Financial Collapse
All the industry and labor in the world generates about 65 trillion dollars per year. The planet's derivatives debt currently totals to nearly 2 quadrillion dollars. About 15 times what all the work in the world can produce annually.

And the derivatives investments continue. Each bailout you hear about is just an extortion of some country by the big multinational banks. They threaten to ruin the country unless its government takes out another loan--a loan the taxpayers of that country are signed on to repay. And the banks invest the money in worthless derivatives. The taxpayers get nothing except debt to pass along to their descendants.

This can't go on forever. Either the process runs its course or the countries of the world call a stop to it. Either way the global economy as we know it collapses. So what should we do?