Interesting article
here (and follow up
here) saying the current economic model is flawed, seriously flawed.
Speculators aren’t buying homes in which to live—they are buying houses to flip. Speculators aren’t buying corn to eat or oil to burn, but bushels to hoard and tankers to park off shore until prices rise. The fact that the speculative economy for cash and commodities accounts for over 95% of economic transactions, while people actually using money and consuming commodities constitute less than 5% tells us something important. Real supply and demand have almost nothing to do with prices. We do not live in an economy, we live in a Ponzi scheme.
and
Using future tax dollars to fund government job programs is one thing. Using future tax dollars to give banks more money to lend out at interest is robbing from the poor to pay the rich to rob from the poor.
It's all very interesting, the transition would be nightmarish however.
Ireland recently embarked on the biggest social welfare scheme in it's history by handing over around €7 Billion to the Irish banks, with no guarantee it will even be enough!
Meanwhile talk of regulation grows more muted, the corporate take over seems almost complete...
