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Where are we on the Limits to Growth model?
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kenneal - lagger
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Joined: 20 Sep 2006
Posts: 10412
Location: Newbury, Berkshire

PostPosted: Mon Feb 05, 2018 7:19 pm    Post subject: Reply with quote

Politics is a circle. If you go far enough to the right you meet the left and vice versa.
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As Steve Keen puts it: “Capital without energy is a statue; labour without energy is a corpse.” Economics ignores this which is why economics is broken.
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Lord Beria3



Joined: 25 Feb 2009
Posts: 4222
Location: Moscow Russia

PostPosted: Sat Mar 17, 2018 4:18 pm    Post subject: Reply with quote

https://www.lowimpact.org/next-system-will-solidarity-economy-mutual-credit-exchange-system/

Interesting article on what we may see develop in a post-capitalist system as we transition into an era of scarcity industrialism.
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Peace always has been and always will be an intermittent flash of light in a dark history of warfare, violence, and destruction
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vtsnowedin



Joined: 07 Jan 2011
Posts: 4721
Location: New England ,Chelsea Vermont

PostPosted: Sat Mar 17, 2018 8:03 pm    Post subject: Reply with quote

Lord Beria3 wrote:
https://www.lowimpact.org/next-system-will-solidarity-economy-mutual-credit-exchange-system/

Interesting article on what we may see develop in a post-capitalist system as we transition into an era of scarcity industrialism.

This quote from the article amused me.
Quote:
This same monopoly power allows banks to charge 300k interest on a 300k mortgage, and demand the interest first.

There's an extra zero on both numbers today due to inflation but doubling the money on a thirty year mortgage has always been the rule even when you could buy a good home for $30K.
He forgets that you get to live in the house for the thirty years and the rent on a home purchased today for $300k with even modest inflation would amount to $450K to $550k over the next thirty years, the exact amount uncertain while you can lock in the interest payments on the mortgage.
This other rant is a bit odd:
Quote:
As Douglas Rushkoff points out in Throwing Rocks at the Google Bus, modern capitalism is not about the production and sale of goods and services. That’s all very 19th century. Now, the derivatives market comprises over 90% of the global economy. The world’s most powerful algorithms, on the world’s fastest computers, owned by the world’s wealthiest investment houses, intercept bids from less powerful algorithms on slower computers, buy up their targeted stock a few nanoseconds before they get to it, then immediately sell it to them for a few pennies more than they would have paid had they got to the seller first. The few pennies don’t make much difference to each sale, but the combined reward for such activity globally is in the hundreds of billions.

When you compare the cost and speed of buying stocks today with computers to the pre computer age standard brokerage fees the purchaser is much better off today even if some computer giant is skimming a few cents per share off his purchase , or sale. That the total world market is huge so skimming a few cents off each share adds up shouldn't offend anyone except day traders that are trying to beat them at their own game.
All in all I don't think he has any real answers as he doesn't see the real problem.
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