The Internet Times Supplement

Economic Crisis – The HOW…

In Business & Finance on February 10, 2009 at 1:53 pm

For many people, understanding what on earth is going on with the banking system is difficult. It is akin to a form of voodoo or magic whereby ‘stuff happens’ in an inexplicable way. There was an interesting piece in the Sydney Morning Herald regarding the inequitable approval given to banks over investors. Much has already been written in relation to the greed and excesses of traders and bankers shown in the ‘rewards’ and bonuses given to them so I will not dwell too much on this here. I will reserve that one for another time.

Getting a grip on what is actually going on is difficult. On Steve Keen’s web site “DebtWatch” he provides what I believe to be a good explanation into the workings behind the creation of this mess. The graphs and charts are quite startling. See what you think. It’s lengthy but worth the effort. Clearly, for the foreseeable future, we are screwed economically.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s