Saturday, July 16, 2011

November 15, 2008 G-20 Meet and the Financial Crisis.

  • |11/15/2008 09:29 pm

  • The G-20 summit in the US, despite the media's political will to hide it, did something substantive: They made a substantive move to act as "a clearinghouse for the $33 trillion market in credit default swaps. This will probably make the global economy even more ambitious to make more money, a process which can be linked to a better quality of life.
    I mentioned Depression 2.0 in this weblog earlier to provide a context whereby you can see that, despite the economic statistics not being this bad since the Great Depression, this is the 21st century. So many things have changed since the 1930's. I believe the latter day depression is more closely linked to a recession cycle which ended with the dot com boom and evaporated in the credit boom in 2007.
    To keep the focus on me, I reiterate it's great to dream of going to the stars, but we must have a parallel down to earth dimension in our thinking. Being earthy and starry eyed simultaneously is a grand tradition I feel deeply.
    BB Ultra

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