Is The World Financially Bust?

My Boy Harry · 6th May 2010, 08:20 PM

If so, how do the budding economists on here plan to get the world back on an even financial footing?

chomsky · 6th May 2010, 08:47 PM

Yes.

Capitalist economics is built on the assumption of growth built on debt - and there's a limit to how long we can make assumptions of economic growth in a world where resources are hitting their limits and populations keep expanding.

It isn't sustainable.

Vote Green

, which I didn't.

pierrot · 6th May 2010, 08:49 PM

we should of joned the euro like the greeks and got the germans to pay for it.

Teed · 6th May 2010, 08:53 PM

I don`t know about Financially Bust, but it`s morally bust, hard times ahead
for everyone I think.

6th May 2010, 08:54 PM

Quote:

Originally Posted by My Boy Harry

If so, how do the budding economists on here plan to get the world back on an even financial footing?

Countries around the world have been aiming for one strategy - growth.

With finite resources this is unsustainable. We now need to stop focusing on growth and focus on profit (quality of life). parp

tunstallhill · 6th May 2010, 08:57 PM

all the rich people who have all the money should give it back

even just £40 for this weekend would be nice

Gideon Gungeon · 6th May 2010, 09:07 PM

Quote:

Originally Posted by My Boy Harry

If so, how do the budding economists on here plan to get the world back on an even financial footing?

yes mate and there is no way back, of course the media wont report it mate until the rich start tightening their belts.

Arthur Mullardo · 6th May 2010, 09:34 PM

Huge drop today in USA....was it a computer trade error or the real thing..
We'll soon find out..

http://www.bloomberg.com/apps/news?p...d=a9OVpLMKuaC8

http://www.cnbc.com/id/36999483

makum102 · 6th May 2010, 09:37 PM

Quote:

Originally Posted by pierrot

we should of joned the euro like the greeks and got the germans to pay for it.

Id vote for that!

elder · 6th May 2010, 10:16 PM

Quote:

Originally Posted by Arthur Mullardo

Huge drop today in USA....was it a computer trade error or the real thing..
We'll soon find out..

http://www.bloomberg.com/apps/news?p...d=a9OVpLMKuaC8

http://www.cnbc.com/id/36999483

the signs from the US economy have been 'promising' recently so a 9% drop seems extreme.

the world is bust though, we've learned little from the last few years and the greece\euro issue has shown that the markets don't give a flying fuck and will do what they want to make a quid.