Web2ExpoSF 09: Douglas Rushkoff, "How the Web Ate the Economy, and Why This Is Good for Everyone"

[100CommonCents]

not quite right from the get go.

Alan Greenspan created a bubble by decreasing interest rates from their natural level in 2001, Oct. (or as natural as one can be under a fiat currency, 10% reserve). This then started collapsing at the end of bush's time, and this was the cause of the first of bush's bailouts.

however bailouts are just like a person in debt taking money out to pay this debt - it didn't help, and Obama is continuing this now.

/watch?v=HAzExlEsIKk

[soundmoneyfan]

Life Inc. is one of the best books I have ever read

[channelislander]

5:55-6:15 rules.

[leeroynaggins]

meh

[libervisco]

Wow, this is awesome. It actually makes me think that the internet revolution is still far from over. It might yet change some of the most fundamental things about the economy, and what's so exciting is that those things are ones on which politics and corporatism depend on, probably two of the worst forces in history.

[MildBentley]

Dead on!

Pity the bankers and politicians are such good bed fellows.

Strong resonance with the 'Money as Debt' clip that's on utube too.

[familybc146]

That was my favorite line too. LOL

[ojmardueno]

"They were so stupid, they bought shares into their own ponzi schemes." Douglas Rushkoff talking about banks

Very well said!