tag:blogger.com,1999:blog-19508699.post6238301731023515398..comments2024-03-13T18:55:49.391+00:00Comments on Energy Balance: Cheap Oil but Financial Meltdown!Professor Chris Rhodeshttp://www.blogger.com/profile/12060542089215379056noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-19508699.post-60471453045121886172008-10-08T15:54:00.000+01:002008-10-08T15:54:00.000+01:00Hi Clarence,yes, I think you're right, that you ca...Hi Clarence,<BR/><BR/>yes, I think you're right, that you can't blame any single government for this disaster. To my mind, the real problem is the virtualization of money.<BR/><BR/>i.e. It is no longer directly connected to anything real, like goods or land or property or gold or oil... once it got onto those computer pixels it took on an ethereal life of its own, and is similarly difficult to tie-down.<BR/><BR/>Sure there have been rogue financiers and traders and damn them all! They should be in jail - perhaps on treason charges, if their wanton or simply criminal actions manage to bring down a country!<BR/><BR/>But assuming we do pull out of the present fiscal nose-dive, we must all learn a tough lesson which is that the only worthwhile investments are those such as I refer too, otherwise the same thing could happen again.<BR/><BR/>Whoever is in government must also enforce some draconian regulations (yet to be installed) to make sure this doesn't happen again. But will they?<BR/><BR/>Regards,<BR/><BR/>Chris.Professor Chris Rhodeshttps://www.blogger.com/profile/12060542089215379056noreply@blogger.comtag:blogger.com,1999:blog-19508699.post-18033627419416261132008-10-08T15:30:00.000+01:002008-10-08T15:30:00.000+01:00Well, if you are looking for the ultimate pessimis...Well, if you are looking for the ultimate pessimist's case, at least from the US perspective:<BR/><BR/><A HREF="http://www.vdare.com/roberts/081005_bailout.htm" REL="nofollow"> link to Roberts </A><BR/><BR/>I don't know who is right on this: people such as Roberts and those members of the libertarian austrian school, or some of the more main stream economists. What I am sure of is that whatever the economy does , no single party or policy was responsible for this mess. At least in the US. I can't speak to Great Britain or anywhere else, really.<BR/><BR/>ClarenceinBaltAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19508699.post-14747151554886338552008-10-08T12:26:00.000+01:002008-10-08T12:26:00.000+01:00Kunstler's podcasts are at http://www.kunstlercast...Kunstler's podcasts are at http://www.kunstlercast.com/. I think Chris is referring in particular to the latest one which is #33 The Great Bailout 2008. He doesn't pull any punches in his podcasts and this is one of his best.<BR/><BR/>KarenAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19508699.post-84513081713642550692008-10-08T11:11:00.000+01:002008-10-08T11:11:00.000+01:00Where is Kunstler's podcast ChrisWhere is Kunstler's podcast ChrisYorkshireminerhttps://www.blogger.com/profile/03364251607711042067noreply@blogger.com