The Debt Prison

[Skybird]

http://www.spiegel.de/international/business/playing-poker-with-trillions-a-prison-of-debt-on-both-sides-of-the-atlantic-a-867404-druck.html

Well written. I tend to agree with most of it.

[the_tyrant]

Meh, you borrowed money, you can't pay back, the debtors control your fate

[Sailor Steve]

Meh, you borrowed money, you can't pay back, the debtors control your fate
The creditor is the one who lends. The debtor is the one who owes.

[Red Brow]

since debt is such a nasty little thing, why did Germany loan?

[Catfish]

http://www.youtube.com/watch?v=hWiBt-pqp0E

[Catfish]

The creditor is the one who lends. The debtor is the one who owes.

Only, that the 'creditor' does not actually lend money any more. He or it, lends numbers. This 'money' does not exist, but electronically.
But you as the debtor need real money to pay it back. You owe them, they own you. Catch 22.

[the_tyrant]

The creditor is the one who lends. The debtor is the one who owes.

Oh, crap:oops:

And to think that I typed that comment in economics class.

[Sailor Steve]

Catch 22.
But I want to fly!

[Oberon]

But I want to fly!

That's some catch that Catch-22!

[nikimcbee]

Oh, crap:oops:

And to think that I typed that comment in economics class.

Hopefully that won't be on the test. That's what you get for goofing off in class.:haha:

[STEED]

For Skybird

You may or may not find interesting. :03:

Why are we bailing out the banks? Part One. The Simple Answer.
http://www.golemxiv.co.uk/2012/10/why-are-we-bailing-out-the-banks-part-one-the-simple-answer/

Why are we bailing out the banks? Part two. Theory, Ideology and Failure.
http://www.golemxiv.co.uk/2012/10/why-are-we-bailing-out-the-banks-part-two-theory-ideology-and-failure/

Why are we bailing out the banks? part three – Lies and Opposition
http://www.golemxiv.co.uk/2012/10/why-are-we-bailing-out-the-banks-part-three-lies-and-opposition/

Why are we bailing out the banks? – Part Four – What happens now?
http://www.golemxiv.co.uk/2012/11/why-are-we-bailing-out-the-banks-part-four-what-happens-now/

BTW: Interesting article that was you posted.

[Skybird]

Thanks Steed, I have bookmarked them and read them later, I just came back from town.

[Skybird]

Good read, Steed. Just that I do not share the authors' "relative optimism" expressed at the end, on people not letting "it" happen. The establishment is too powerful as if it must allow its privileges and wealth and power being put in question without setting up a hell of a fight. So either people let it happen, and the result will by tyranny, or they do not let it happen, then the result will be revolution: and a damn huge and bloody one with unclear winners.

Either ways, the future will be nasty. Very.

[STEED]

Hey I found something Skybird enjoyed reading. :up:

I agree his findings are interesting but he dose think there still could be some hope but I think hope has long passed by now. Batten down the hatches its only going to get worst.

Next up...the paper money apocalypse.

Sorry I mean the paper IOU apocalypse.