New, (Sept 27) interview of Ben Dyson from Positive Money UK by Max Kieser (I love Max Keiser!). Bens interview starts at 16:30 and Ben talks about UK debt, GDP and economy and how this relates to private banks creating the money supply. Some quotes: If you fuel your economy through getting people to borrow more, it goes in to the housing market, causing bubbles and the money does not contribute to the real economy shown in GDP. Personal debt is at an all time high He goes on to say how more and more of peoples incomes are needed to service house repayments - leaving less for living costs. Houses earn more than the top % of income earners earn How long can this go on? House prices cant rise indefinitely And the Max says If you have governments and banks colluding to increase debt, this is corporatism/fascism, not capitalism. I think that comment is to the point about our present predicament! Although Ben talks about the UK, this is relevant in NZ: we have a housing bubble and unprecedented private debt levels. It cannot go on. Ben makes the important point that most politicians do not realise how money is created and his present goal is to educate politicians. My personal opinion is that politicians have too many corporate interests and it is public demand for change that we need. https://youtube/watch?v=ET8CiW1FICs
Posted on: Tue, 30 Sep 2014 06:47:18 +0000