Richard Wolff on the coming crash…….

30 05 2015

Of course, zero mention of Limits to Growth here………

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8 responses

31 05 2015
John Doyle (09:30:52) :

I saw this interview from another source. It’s an incredibly good interview.
He explains how cheap air fares and the modern telecommunications kick started Globalization and all the ills resultant from that -depresses wages, loss of jobs widening gaps between rich and poor etc.
When it came to Greece his answer is what must eventually happen, followed by Portugal, Spain etc
When he talked about loans and debt he missed one opportunity to show that paying debts back is only a moral hazard between individuals and the like not with banks.
With banks all their lending money comes out of thin air, so if a loan goes bad the bank just marks down numbers in accounts to cover. No ones real asset loses. Someone won a court case 40-50 years ago when the bank admitted their money was just computer numbers, while he had a real house, so there was no equivalence, an essential requirement.
I don’t know why we have not seen a rash of such cases.
No he doesn’t go into limits to growth except he would have if there had been a question.

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31 05 2015
gbell12 (10:03:44) :

I ain’t gonna watch it. How much of history has had a constant supply of these sorts of prognostications? 100%? 99.9%? They have no analytical or predictive value.

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1 06 2015
John Doyle (12:38:16) :

I wrote a reply.
What happened to it???

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1 06 2015
mikestasse (12:43:50) :

I’ll search in spam for you….

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1 06 2015
mikestasse (12:53:02) :

Bloody WordPress……. I did find it in spam, retrieved it and approved it, but sorry John, it seems to have disappeared off the face of cyberspace…

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1 06 2015
mikestasse (12:55:00) :

Hello, it’s back!

1 06 2015
John Doyle (19:51:38) :

Where is my detailed reply from yesterday?

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1 06 2015
mikestasse (21:00:59) :

Is that not it at the top of the comments?

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