more boring economics stuff

[ajva]

I know people must think by now that I'm some kind of nutter Jeremiah-esque permabear muttering away in the corner and stinking of whisky, but in case you were wondering, it's things like this graph that make me wonder if we could be facing a total global meltdown economically, originating in the fundamental insolvency of the world's banking system.

Just saying. *swigs from bottle in brown bag*

Mind you, I remember my Dad saying something similar back in 1986 or thereabouts, so I expect everything will turn out OK.

Comments

[jhg.livejournal.com]

Oh, and a general point - why are the people who have all the power SO FUCKING STUPID??!!!! I mean honestly, all the problems we're having now is schoolboy stuff.

[ajva.livejournal.com]

I think it's not stupidity but perfectly rational behaviour when you consider that both politicians and bankers are motivated by relatively short-term incentives, such as aiming to be re-elected or achieving this year's juicy bonus. It's perfectly understandable that the instinct is to try to patch up the deck in the hope that the whole ship won't sink until the next guy's watch.

[jhg.livejournal.com]

Indeed. The system is very much flawed (at least in the USA and, to a lesser extent, the UK)

We should go back to having Kings - but rather than hereditary have them nominate their successors. I reckon Stephen Fry would make a good King.