[VIDEO] On global debt – Write off the debt. Nationalize the financial system. Start all over again.

28 Feb

Australian economist Steve Keen interview on BBC Hardtalk gives one opinion on how to get Europe and the world out of the global financial mess we are currently in.  His solution is pretty extreme, but has been done in various ways at different times throughout history.  He says if we don’t write off the debt, temporarily nationalize the financial system and start all over again with new rules, the whole world could become like Japan since the 1990’s – a lost decade (which is actually 2 lost decades.)

This is a hugely controversial solution that will hit people in their core values and beliefs system.  I’d love to know what you think in the comments below.

Advertisements

2 Responses to “[VIDEO] On global debt – Write off the debt. Nationalize the financial system. Start all over again.”

  1. John Lilly (@J_Lilly) April 16, 2012 at 10:13 am #

    We need to realize that usury – borrowing and lending with ANY amount of gain or “interest” – is the core problem.

    There is a reason so many great philosopers and religions originally frowned upon usury. Its right there in the Bible, for example; “Thou shall not lend upon usury to thy brother.” Deuteronomy 23:19

    Outlaw usury.

    • laurent April 16, 2012 at 10:39 am #

      I don’t know about “no interest at all”. I see value in charging interest… but it does start to get into usury at some of the rates charged out there… like credit cards for example. Or banks charging on fake money that’s been created out of thin air.

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

%d bloggers like this: