Debt can never solve more debt! Popular financial writer "Ilargi" from The Automatic Earth on the European banking mess - and the blowback to America.
All eyes and ears are on the rumblings of a financial crash in the European banking system. Our correspondent from "The Automatic Earth" (one of the top 3 finance blogs) reports from Europe.
http://theautomaticearth.blogspot.com
Ilargi says Greece is a distraction from the bankruptcy of American banks and governments. He also says more debt cannot solve too much debt. The Ponzi scheme (which holds our pensions and savings as well) has to end somewhere.
With a nod to OccupyWallSt.
Greens need to pay attention, Ilargi says, because any money needed for things like solar conversion, mass transit, new energy grid, are being tossed away right now to the black holes of banking and derivative debt. We will leave our children no options. They may fight for bare survival, eating up the last of the Earth.
Interview by Alex Smith, from the Radio Ecoshock Show 111050 17 minutes 4 MB
http://www.ecoshock.org/downloads/economy/ES_Ilargi_2_LoFi.mp3
http://theautomaticearth.blogspot.com Ilargi says Greece is a distraction from the bankruptcy of American banks and governments. He also says more debt cannot solve too much debt. The Ponzi scheme (which holds our pensions and savings as well) has to end somewhere.
With a nod to OccupyWallSt.
Greens need to pay attention, Ilargi says, because any money needed for things like solar conversion, mass transit, new energy grid, are being tossed away right now to the black holes of banking and derivative debt. We will leave our children no options. They may fight for bare survival, eating up the last of the Earth.
Interview by Alex Smith, from the Radio Ecoshock Show 111050 17 minutes 4 MB
http://www.ecoshock.org/downloads/economy/ES_Ilargi_2_LoFi.mp3
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