<Herman Daly on the Credit Crisis, Financial Assets, and Real Wealth The Oil Drum DrumBeat: October 14, 2008>

163 comments on Revisiting an April 2007 Forecast Regarding The Connection Between Peak Oil and the Collapse of the Monetary System

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Gail the Actuary on October 13, 2008 - 10:25pm Permalink | Subthread | Parent | Comments top

You have some interesting insights there the Bad Loan Universe:

laundered credit is considered capital and the resulting inflation is considered productivity

'The Federal Reserve Bank'. It swells with bad loans that never disappear, but requiring nevertheless more and more interest from the surrounding productive universes. The more bad loans it swallows, the more bad loans it propagates, since all loans that fall into its ambit become tainted by the ralationship and considered 'bad'.

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steve from Virginia on October 14, 2008 - 2:07am Permalink | Subthread | Parent | Comments top

Unfortunately, I don't currently have any insights on how to get from where we are now to where we need to go ... without tremendous agony.

It doesn't help that the people in charge are living in a dreamworld.

Even a good plan will face tremendous obstacles and will be a race against the ecological time bombs.

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163 comments on Revisiting an April 2007 Forecast Regarding The Connection Between Peak Oil and the Collapse of the Monetary System

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