Monday, 23 March 2009

Time to end the mult-generational ponzi scheme

Check out these posts below. Quite short, they made by people familiar with energy problems and have reached conclusions about the way our economy works or doesn't work today.

Link to another short post. He raises a question I've thought about before. What if Reagan never happened, but Carter or people like him carried on and moved the world towards sustainability in the 1980's? One for counter-factual historians...

Back to reality. Have a read of Herman Daly's take on the financial crisis - the ecological economics explanation.

Finally, check out this article from Rolling Stone magazine about the bailouts in the US. It's quite long, read it when you have time, but it's entertaining, I laughed out loud several times. Well worth reading the whole thing.
This is an extract from the very end of the article that gives you an idea:
"The most galling thing about this financial crisis is that so many Wall Street types think they actually deserve not only their huge bonuses and lavish lifestyles but the awesome political power their own mistakes have left them in possession of. When challenged, they talk about how hard they work, the 90-hour weeks, the stress, the failed marriages, the hemorrhoids and gallstones they all get before they hit 40.
"But wait a minute," you say to them. "No one ever asked you to stay up all night eight days a week trying to get filthy rich shorting what's left of the American auto industry or selling $600 billion in toxic, irredeemable mortgages to ex-strippers on work release and Taco Bell clerks. Actually, come to think of it, why are we even giving taxpayer money to you people? Why are we not throwing your ass in jail instead?"
But before you even finish saying that, they're rolling their eyes, because You Don't Get It. These people were never about anything except turning money into money, in order to get more money; valueswise they're on par with crack addicts, or obsessive sexual deviants who burgle homes to steal panties. Yet these are the people in whose hands our entire political future now rests."

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