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Does anyone know - is this what would have happened? Is this how the financial catastrophe, that we narrowly avoided, would have actually turned up in our lives?
All true enough, but still interested in what would have actually happened if "the worst", that all the politicians hinted darkly at, had happened? You see what I mean? Everyone is saying a year later "we just avoided catastrophe". If we had not avoided it, would this have meant that money no longer had any value? Is that what "the catastrophe" would have been?
well I think what is bothering me is how quickly it seems to be back to 'business as usual'. Sure doesn't seem to me like there are going to be any fundamental changes to the way Wall St does business. The problem is if it were to happen again in 3-4 years, next time, The US, UK and most of the EU countries will already be up to their necks in debt. There will be no more money to print. I guess I should stop worrying about it. But somewhere in all this I smell a rat.
what's going to happen in october, any ideas?
---------- Post added 09-23-2009 at 04:45 PM ----------
oops-sorry if that was off topic, i just had to ask.
anyway, i was wondering if the real one was imminent, actually....some people say.
A year ago people were saying 'is this the end of capitalism as we know it?' Well, apparently not, but on the other hand, all of the Governments in the first world have just assumed a couple of generations worth of public debt to keep the ship afloat. And if capitalism does go back to its own self-interested ways, and I am sure it will, what happens next time? Because there is bound to be a next time.
well it is a very good argument for the pursuit of, and education in, philosophy! I often feel that we could gain a great deal if we trained ourselves in the classical philosophical virtues of modesty, reason, skillful thinking, non-wastefulness, contentment, enjoyment of simple pleasures and the attaiment of happiness through the pursuit of virtue. Because, looking at what is coming, we better learn to enjoy these things, in my view.
I am off by a few days, but there have been a number of articles about how Sept 15th 2008 - the fall of Lehman Bros - was almost the onset of 'financial apocalypse' which was narrowly averted by Ben Bernaeke loading up a giant snow making machine full of dollar bills and spraying them liberally all over the country side.
Now my question is, if 'financial catastrophe' HAD NOT been averted, if 'the worst' had actually happened, how would this have manifested? What would have happened on Sept 23rd or Oct 7th, or whenever it would have been, that would have marked that point?
Now would be an excellent time to form collectives and buy up decrepit property to form intentional communities. Sure, the second wave of the economic crisis is inevitable, but there is a great opportunity for common people to take their destiny in their hands and form real communities again.