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rune66

Why Malthus Got His Forecast Wrong | Our Finite World - 0 views

  • NIce one Gail, but I wonder personally if debt is the issue: to me its just a symptom. If you take economies as pure systems, then they have natural feedback and feedforward paths. Debt is a way – especially debt based on notional, rather than actual, security – of trading notional surplus today for increased prosperity tomorrow: That is, it is a hugely effective way of accelerating growth in a system that is not resource limited. IN a system that is resource limited, where no growth is physically possible, spiralling debt merely reflects an attempt to engender growth where none is available. Debt itself is not the problem, its merely a symptom of the problem, associated with the fact that governments financial institutions and so on, are desperately trying to create the growth they need to balance their books, when it cant be done. Debt is conceptually easy to solve. simply devalue it by 10 or so. All savers lose 90% of their savings, all borrowers lose 90% of their debt. Wealth gets transferred from lenders to debtors. That’s largely what debt ridden governments have done with QE et al.
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    Velgørende med en lidt mere nuanceret beskrivelse af gæld. Gæld er et symptom på et overstyret system; et system der vil mere end det kan.
rune66

Spekulationsfonde udløser græsk drama | information.dk - 0 views

  • Af frygt for at miste alle deres penge, hvilket kunne have udløst en alvorlig bankkrise og kreditklemme, solgte pengeinstitutterne deres obligationer til spotpris på det sekundære marked.
  • Credit Default Swaps (CDS) får skylden for mange ting, og i forhold til Grækenland fremhæves CDS kontrakterne ofte som argument for at Grækenland ikke “må” gå konkurs (teknisk set). Implicit i dette argument må ligge en formodning om at det vil få uoverskuelige konsekvenser hvis CDS kontrakterne kommer til udbetaling.
    • rune66
       
      Endelig en person, som ved lidt om CDS'er og nedlægger endnu en myte.
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    Apropos vores snak om, hvad banker må og ikke må. De må altså tilsyneladende godt eje/køb obligationer og videresælge dem.
rune66

Nobody Understands Debt - NYTimes.com - 0 views

  • The Krugman Solution: "Take the line of credit and fix the house. Yes, your monthly costs will go up a bit, but once the house is fixed you can cut back slightly on non-essentials, get a raise or a different job where you'll make some extra money. and eventually pay off the line of credit."
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    Krugmans syn på gæld. Selvom det er interessant, at gæld ikke behøver at være et problem, så er det svært med USA's nuværende situation at tro på, at de vil være i stand til yderligere velstandsforøgelse. Det ser tvært imod ud til at gå den modsatte vej.
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