Economist: civilization may not survive "death spiral"

[Cobretti2]

Mr Khan said:

Mnementh said:
This is talking about debts, money and the like. Goods will be produced by companies, that at the moment work. Problem is, that both are entangled. But money exists because the government made rules for it. If the economy is in trouble only because of the financial system, the government has many ways to do something. Most of this will not be good for banks and other financial institutes, but as they produce nothing really valuable it will be acceptable in a situation of crisis.

That's what i was thinking, too. The joys of a fiat money system is that, at the extreme of things, it can all be rewritten and handwaved away. To the detriment of big banks and major stockholders, but what have those folks done except screw us over in the past four years anyway?

From memory, wasn't their a big peace movement crap in 1999 that in the year 2000 all 3rd world debts debts should be wavedd so that they stop cutting trees (mainly brazil) as they currently only do in order to pay of their interest on their debts. It was all about saving the environemnt and helping the 3rd world develope without destorying the earth.

That didn't go down so well then, so I don't know if a peaceful option can existing for a simple wave the debts and start with a clean slate.