Who Killed Economic Growth?

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PostThu Sep 01, 2011 5:06 pm » by Bonsueley


Economists insist that recovery is at hand, yet unemployment remains high, real estate values continue to sink, and governments stagger under record deficits. Author Richard Heinberg proposes a startling diagnosis: humanity has reached a fundamental turning point in its economic history.

This brilliant animation, produced by the Post Carbon Institute, explains that with the Industrial Revolution rapid growth became normal. Economists pointed to innovation, increased trade, division of labor. But it was mostly a result of cheap energy. We could do more than ever before with cheap coal and gas. Economists assumed the absurd notion that growth could go on forever.

The economies of the wealthiest nations started stagnating years ago, as resources began to run out. Governments, businesses and households went into hock up to their eyeballs gorging on easy credit. The financial system created ever more complex securities and derivative schemes to soak up all that debt and make perpetually rising profits on imaginary assets.

The mother of all bubbles burst in 2008 - and we have not headed toward "recovery". And recovery to what? More bailouts, debt, more consumerism and resource depletion?

We can live without economic growth but we'll have to start doing a few things differently.


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PostThu Sep 01, 2011 5:36 pm » by Tuor10


The theory of perpetual growth as espoused by the liberal/leftists, is basically completely and utterly inane. The notion that a country can maintain continued growth through the use of milking natural resources and human labour has created a situation whereby the former industrial powers of the west have become giant superstores for Asian goods. Problem is, this system had a sell-buy-date which has well and truly run out.

The way I see it we have to do one of two things: stop mass immigration and the importation of foreign labour in an effort to create an employment equilibrium; or totally do away with the current capitalist paradigm in favour of a more inward driven market. Both ideas have their flaws; but if the status quo continues in its current guise the governments of the west will start to see mass rebellion by the millions of have nots.

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PostThu Sep 01, 2011 5:45 pm » by Rydher


This is an oversimplification but you can't mix two diametrically opposed economic systems and expect it to work.

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PostThu Sep 01, 2011 5:54 pm » by Tuor10


rydher wrote:This is an oversimplification but you can't mix two diametrically opposed economic systems and expect it to work.


When Thatcher, along with Regan, deregulated the markets and created a laissez-faire system of economics, they created, over night, the environment for mass corruption on a scale never seen before. The basically allowed the banks to move into other area's of finance; so after a time, banks became insurers, property and corporate owners, and hedge funds. They used people's savings as collateral - hence the massive bailout - and conspired to completely monopolise other areas of the economy, namely energy resources.
Now, we have a world run by corporate interest, that has manifested into a political concept, and espoused as progressive to the masses by political puppets and hack media out-lets who are owned by the same people who own the banks.

Fucked up!

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PostThu Sep 01, 2011 8:20 pm » by Funnyman46


Documentary about what REALLY caused all the financial mess we're in. The Derivatives Market.
Steps that took place in order to deregulate the stock market and what the crooks did once given free reign. They knew they were selling something that had no value what so ever. An excellent documentart and really should be watched before any other conversation about economics can be discussed
PBS Frontline The Warning 56:17 minutes


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Please do not take anything I say as truth, I am under control of a lizard race hell bent on staying underground and unseen to further my paranoia.

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PostThu Sep 01, 2011 8:24 pm » by Tuor10


funnyman46 wrote:Documentary about what REALLY caused all the financial mess we're in. The Derivatives Market.
Steps that took place in order to deregulate the stock market and what the crooks did once given free reign. They knew they were selling something that had no value what so ever. An excellent documentart and really should be watched before any other conversation about economics can be discussed
PBS Frontline The Warning 56:17 minutes


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A British citizen walked into the bank of England and asked what gave her 20 pound note value. She was chucked out of the bank, and the doors were locked.

True story.

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PostThu Sep 01, 2011 8:32 pm » by Santaownsyou


The business interests killed economic growth. In every period after a recession in the last 100 years business reinvested between 15%-25% back into the labor market(new jobs/ higher wages) thereby sustaining the period of growth. After this recession they have invested a whopping 1%, so with corporate profits up 40% they are now just hording the cash and soon there will be very few left who can afford to buy their products in the U.S./western world..
If it looks like a duck, acts like a duck, and quacks like a duck it is probably just a tool of the conspiracy.

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