Global financial crisis 2007–present

As has been mentioned, go away and watch the following films:

Money As Debt
Inside Job
Collapse

Then come back and talk

The be all and end all is that we want to live in a world that:

a) Leaves a world in a better state for our kids and people who come after us (that is quality of living and quality of the planet)
b) To lead a happy life with food, water, shelter, leisure.


The only factor which matters therefore is the following:

- The successful managing of the resources we have to achieve the above goals

This means the monetary economy is irrelevant as we know it is and as we can see it is breaking down in front of our eyes because everyone knows that that a resource based economy is all that matters.

To do this we need scientists, technicians and research.

Technicians are the only people who actually solve problems to do with the world in which we live. Technicians and scientists have created modern medicine, contact lenses, modern transport, solar panels, geothermal energy, nuclear energy, modern communications, modern electronics, the electric car etc.

Politicians can not solve problems so after a while become irrelevant. Granted there should be a structure to our society but the one we currently have is broken and manipulative.

The world is changing, people are educated and learning about their surroundings. The arab spring, WikiLeaks, the uk youth riots, the occupy movement, the decline in religious support, the banking crisis, the huge spanish indignants protests, the greek riots etc. These events are all connected. Its just a matter of if you can connect the dots.

Archaic institutions are crumbling, information and the internet are the new powers in our world. Everything else is second place.

If anyone else is interested in social movements/documentaries/economics and this sort of thing feel free to drop me a PM for a chat

^ You're extremely well-versed and that's exactly along the lines of my reasoning behind this topic!

Very inspiring to read first thing Monday morning

I see these very right wing ways crumbling and the world starts to move back left toward the middle of the political spectrum. And before anyone says it, all the main parties are VERY top right whereas the best place would be down in the bottom left square.

A break from these policies of extreme capitalism will help the entire world. Taxes would actually be applied to the rich a lot more than the not as well off.

I give petrol as an example for tax problems. Petrol is 40-50p per litre but then taxes take it up to £1.45. I would say drop taxes and keep petrol at £1 per litre max. To compensate for the less revenue, I would take more tax from the rich.

I would try and get a minor party in power as ATM all the main ones are rubbish and haven't got a clue.

Another measure I would make would be getting the army out from the wars we are in, not in a couple of years but NOW. This would stop the losses both people wise and money wise. I would use the army for defence not attack.

That is all I can think of for now.

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BigT said:

Because it is nothing to do with policies of current government, it would have happened anyway, the whole of Europe is in recession exept Germany and a lot deeper than UK.

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Hold on. Cameron and Osbourne said the spending cuts and the 2011 budget would prevent this from happening. So how can it now be blamed on Labour when their magic plan failed?

Oh wait, that's because we had an extra bank holiday, or there was a bit of snow, or the summer riots, or the 'let's use a recent event to blame for the crisis rather than holding out hands up and say we don't know what we are doing, but we want to keep out money'

This forum can't be the only place where people hate all the main parties for failing......

The time will come.

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Re: Global financial crisis 2007–present

Tom said:

I wanted to start a discussion on this, but I'm not sure there will be many that would want to defend the people I'm pointing a finger at, but here goes:

The real reason for this recession is simply that the West's wealth has come from the exploitation of its own and other people, and the earth's natural resources.

Despite all these promises of regulating banks etc, unless humans decide to do away with money and work to better themselves, the long-term outlook is bleak.

But even without the recession we're currently in because of the greedy banks, how anyone can continue to expect living standards to rise indefinitely while the planet's population is rising all the time and resources are fast running out, is beyond me.

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spot on post!

The current economic situation is due to the last Labour government spending money it didn't have, individuals spending money they didn't have, and banks lending both of these money they didn't have!

I was hoping this current bunch of self serving pigs of a government would sort out the mess but there screwing it up as well.
We can't spend money we don't have.

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not the case at all! It could be argued that succesive governments prior didnt invest hence the need for labour to borrow to invest.

Personally i think it all stems back to Thatcher privatising everything Britain owned!

P.s. I am not politically sided with either of the big two parties.

Everything changed when Maggie deregulated the banks. She's a top candidate for worst human ever to have lived.

[youtube]http://youtu.be/cCRnkamitVk[/youtube]

Banker's greed and lack of regulation (/fraud/incentives within the ratings system between agencies and banks) were all in cause (in my opinion) for the crisis. Human psychology plays a major role in the situation, and the governments have have to deal with the outcome. Politics is not my strong point, so I can't really comment on this, apart from the deal of the loading up of sovereign debt.

The whole system was doomed, and when you get into the ins and outs of the cycle of what was going on, I am not surprised that the financial system collapsed, as people were too clever for their own good. However, hindsight is a wonderful thing...

All that can happen now is for governments to do whatever is best for their country to drag their economies out of recession etc etc. The double dip recession would have happened anyway, its not completely down to government policy, all sorts of factors including the eurozone crisis took part in second dip.