Interview 1084 – Financial Survival: Economics is Not Science

by | Sep 3, 2015 | Interviews | 2 comments

econosciencesquareThis week on Financial Survival James and Alfred discuss how central banks manufacture our economic reality, not out of immutable laws of nature, but on the back of an agreed upon medium of exchange whose rules and conditions they set. We talk about the ramifications of these central bank manipulations on the economy as a whole and what this means for the future of the world.

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  1. I find it disconcerting that even those who are most conscious of mind control and brainwashing still operate under the cultural belief that some who “borrow” privately created, debt-based credit units are less “deserving” than others. We all need to examine these beliefs. What makes one person more deserving than another? Who should decide?

  2. Gentlemen, What is now called the “science” of economics used to be called “political economy” which seems a truer definition of the study of human endeavours. And while there are too many “schools of thought” on what their adherents would like to think are logical theorems of how human economy functions all seem to have strengths and weaknesses to greater or lesser degrees. That being said Professor Steve Keen has developed a very interesting complexity modelling theory expanding on Minsky’s theories of the unstable nature of capitalism. Keen’s modelling can now predict outcomes from various true life economic inputs. Some have compared Keen as to be “political economy’s” Darwin.

    On the raising of interest rates and their effect. When debt is leveraged as is often the case today by twenty or thirty to one as with derivatives on bonds and such, then the rise of 25 basis points in rate will also be leveraged on the leveraged debt instruments; in reality a .25 % rate hike can become a 5.00% rate hike or more when it comes to the interest to be paid. Therefore think ZIRP forever or an “I told you so” increase of 5 to 10 basis points, from .25 to .30 or .35 is my guesstimate. Unless as you two said the goal posts are about to be changed. Great stuff gents.


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