Setantii

Sounds a reasonable point of view to me.

Koppel telling it as it is. http://news.bbc.co.uk/1/hi/programmes/world_news_america/

None of our leaders will admit that it's the international bankers and their mind boggling global derivatives market that's caused this mess. To admit that would be to admit that the heart of Capitalism, the banking system itself, has failed and it will almost certainly prove fatal. Opinions?

Agreed, thanks for the link Spaceship.

If the global finance system collapses and paper money becomes worthless the only way out of this mess IMO would be a second world war style rationing of resourses. Can anybody else see this happening?

If I'm brutally honest I'm torn between conflicting emotions. On one hand I'm fearful of a full scale breakdown of capitalism and the consequences it would bring because I have four kids to care for. On the other hand, apart from my mortgage (a modest £30,000) and a car loan that I paid off I've never been in debt. However I'm almost sure that the company I work for is going bust soon so I'll be out of a job and who's going to bail me out? The only savings I had we're 100 B&B shares I was given when they turned into a bank and they've gone up in smoke (I wished I'd just sold them and blown the money like my mates did). So this part of me would see a global crash as an economic equalizer that might eventually bring about a more egalitarian society.

I'm so ******ed off with it all. A big 'destroy the banks' party sounds good. Anybody up for a riot?

Nice piece of discourse analysis there mate.

Sutton Estates should get a visit from Mr Molotov.

I have been labeled 'The Prophet Of Doom' at work by my colleagues! Are we all doom mongers on these forums? Seeing as most of the bad news I spread originates from these forums perhaps the site should be renamed prophetsofdoom or perhaps economycrash? Just a thought.

Some funny comments on this thread but this one's a classic. You HPC guys help me smile in the face of adversity.

I watched and couldn't believe it. Such a situation in the U.K would provoke riots, surely?

I just spat my coffee out! LOL!

To be honest mate I feel the same. I've been warning my friends and work colleagues about the coming crash for ages yet it's aproaching so fast I'm completely unprepared myself!

Drinking beer and chasing women . . . . . seriously though I wasn't clued up at all then (and probably still not). What happened in 2005?

Ok, I'll admit that I'm not very clued up on 'derivatives' and I can't find any comments on the subject from the major news outlets. However, if the claims in this six month old article are true then the housing bubble could be the least of our worries. Is there any truth behind these claims?

I love the horror of Lovecraft. That's a great phrase.

I've often wondered the same thing myself. Another thing, why aren't kids taught the fundamentals of Capitalism at school? Are they afraid of the Proles discovering how they are exploited by the system?

I've fixed the link, sorry about that.

IMO the article linked below points the finger at the real cause of the current crisis, the financial system itself and it's central feature - Fractional Reserve Banking. The current economic system we are locked into is flawed and unsustainable. Please read and comment, thanks. http://www.investorschronicle.co.uk/Column...er-of-blame.jsp

I can see the logic in that but what about the actual land under our feet? How do you decide the ownership of that?

But Isn't the same 'state violence' used to uphold individual property rights?

This is what I don't understand about your logic. You argue that taxation relies on violence yet fail to see that private property relies upon the same violence. Otherwise it's merely land.

Good call.