On the edge with Max Keiser /09 /18 /2009 /Part3
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8:32
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Yes, well maybe i made a mistake on the names. Appologies bro.
terfle1106 2 years ago
Can you imagin a world where everyone baught and sold only what thier pay chexk allowed for ? It would'nt be anything like what we know today. I think it would be more peacefull and in better equillibrium. We might not need a whole bunch of junk we depend on nowerdays. Sorry for the typing errors in the last two messages bro. Back to you !
terfle1106 2 years ago
(suite) .... Credit may come from savings, however from a stricktly earnings point of view, it's still "having something without having earned it". Therefor, the whole credit system is basically immoral. Money and morality (ideals) should at least go hand in hand.
terfle1106 2 years ago
christo930 : I get the point and i can understant perfectly what you're getting at. I have allways felt that getting credit is not a good affaire. It's having money that has not as yet been earned. Our civilisation can not go forward on the ideal of "having what is not earned". This is why things are so bad today. here in France we sat "se vend pas la peau de l'ourse avent de l'avoir tué"... you can't sell a bear skin before you've killed the bear.
terfle1106 2 years ago
True credit comes from savings, not from inflation. When society under-consumes and saves, business people take the saved money (at interest) and invest it in new productive capacity which makes society richer. What we do is inflate the money supply and use the new money (at interest) to consume. Consuming doesn't create new wealth and the interest isn't created which is why we perpetually need to grow or there isn't enough liquidity in the system to service the debt.
christo930 2 years ago
The essentielly you advocate the credit systeme (as you put the blame on other things not associated to mass global financial psychology). What you mentioned seem on the nail to me, but these are only the mechanical effects of global greed psychology. I know it's hard to admit that we must get rid of our credit based civilisation, but what else can we do. You got any ideas ?!?!
terfle1106 2 years ago
The bulk of our problems started with 2 things which were very major and happened at the same time:
America's peak oil production
Abandoning the gold standard
Ever since these 2 events we have been living in an inflationary credit bubble. With credit cut off, we have to spend large amounts of current wealth on previous spending and rebuilding savings (since it's harder to rely on credit for a rainy day).
christo930 2 years ago
I only made 2 posts and neither one of them were directed at dean000007!?!?
christo930 2 years ago
I just love the clash of inflated ego's between christo930 and Dean0000007 !!
terfle1106 2 years ago
One thing more. People try to live with what their pay check does'nt allow them to sustain. The US economy from top to bottom (and world wide today) tries to play arround with finance in order to "do no work and have a good time". There was a time when the value of work and " workmanship" matched up with what you got payed. Too many greedy bastards on the planet make for a world in anguish, would'nt you agree ?
terfle1106 2 years ago