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PeakOil is You

PeakOil is You

Reverse Engineer's Explanation of Markets and Investing

Discussions about the economic and financial ramifications of PEAK OIL

Re: Solutions to Global Monetary System Meltdown

Unread postby Quinny » Thu 18 Sep 2008, 19:25:07

Having been the first, but not willing to sell out I can honestly say the people in that line of business were (in general) genuine people who wanted to improve the lives of their constituents.

As for the rest, the only people in our customer base who are 'needed' at the moment are the specialists in legalised robbery!

The rest are on their arses struggling for money.

$this->bbcode_second_pass_quote('mrobert', '@')Quinny:

The world will always desperately need:

- politicians
- real-estate agents
- travel agents
- interior design consultants
- lawyers
- stock brokers

etc etc etc

I am considering to become a Peak Oil agent and consultant.
Anyone care to use my services?
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Re: Solutions to Global Monetary System Meltdown

Unread postby ReverseEngineer » Thu 18 Sep 2008, 19:27:17

$this->bbcode_second_pass_quote('Quinny', 'M')r Bill

I respect your opinion and the coherent arguments you put forward. On this issue in your previous post you were defending your right to keep the privilege of inheritance and higly paid job, and then go on to point out how population will need to fall to about 5% of what it currently stands at.

Do you really think that if population falls to the levels you suggest that jobs like you currently occupy will exist?


Mr. Bill's belief that he has a fundamental right to his wealth accumulated as a trader in the face of depleting resources for the world as a whole is what is so annoying. So in answer to Zardoz's question, "Is it just Mr Bill?". No, lots of folks tick me off in this way, just here MrBill expresses the attitude in more detail and better than anyone else does :-)

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Re: Solutions to Global Monetary System Meltdown

Unread postby Madpaddy » Thu 18 Sep 2008, 19:34:08

Its only fair that the losses incurred by the irresponsible lending practices of financial institutions should be shared among all. Thats good socialism at work.

And it is just great that the government is keeping the show on the road by effectively nationalising banks and mortgage lenders.

National Socialism - it hasn't gone away you know...
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Re: Solutions to Global Monetary System Meltdown

Unread postby dohboi » Fri 19 Sep 2008, 00:56:32

Sorry to be so late in responding, but back a ways specop said:

"How that would apply to ecological stewardship is through allowing companies to grow."

Hmmm...errrr...

Growth is the problem. A system that encourages endless growth as an inherent good is not compatible with "ecological stewardship." Claiming otherwise is the last word in self-serving rationalization.

We are in multiple historic crises of global proportions. I don't have a clear picture of what a real comprehensive plan to address these crises would be, but they are so deep, I suspect anything effective would require a lot of pain from everyone, especially from those who have the most--which on the global scale would presumably include everyone on this forum.

But we have for so long been so deeply inside the ideology that says that "I should never have to give up anything for anyone." I can't see that almost any of those deeply convinced of this ideology will change.

To say that greed is the problem is kind of bizarre. Greed was the engine for the "magic of the market" when things were going relatively well.

Capitalism is based on and must encourage endless and ever more ruthless greed. You can't say "It's not the system, it's greed." Greed is what the system is based on and what the system must perpetuate.

Those who can see this probably already know it. Those who can't will howl their refusal. Not really much use belaboring it further.
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Re: Solutions to Global Monetary System Meltdown

Unread postby Iaato » Fri 19 Sep 2008, 00:59:33

Growth capitalism is dead, Jim. Let it go. Lee Adler is riled.

$this->bbcode_second_pass_quote('', '"')Unlike Roosevelt, who shut down the banks, told the bad ones to go to hell, and let the good ones reopen, and then bailed out the middle class with massive public works projects and social programs, the Bush administration wants to bail out their banker buddies, and stick us with the goddam bill for the rest of our lives. That’s the difference between the 1930s and now. Politicians actually gave a damn about the people, rather than just lining the pockets of their corporate whoremasters."


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Re: Solutions to Global Monetary System Meltdown

Unread postby Quinny » Fri 19 Sep 2008, 01:15:18

Your irony is illuminating.

One of the perpetual myths expounded by the press is that the nasty socialists should leave all these excellent business people alone to run these industries. Steel, Rail, Coal etc were all rescued from collapse rather like finance is being now. This was often done at the begging of 'Capital' it wasn't as promoted by many, theft by the left.

$this->bbcode_second_pass_quote('Madpaddy', 'I')ts only fair that the losses incurred by the irresponsible lending practices of financial institutions should be shared among all. Thats good socialism at work.

And it is just great that the government is keeping the show on the road by effectively nationalising banks and mortgage lenders.

National Socialism - it hasn't gone away you know...
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Re: Solutions to Global Monetary System Meltdown

Unread postby Zardoz » Fri 19 Sep 2008, 01:19:26

$this->bbcode_second_pass_quote('Iaato', '
')$this->bbcode_second_pass_quote('', '"')Unlike Roosevelt, who shut down the banks, told the bad ones to go to hell, and let the good ones reopen, and then bailed out the middle class with massive public works projects and social programs, the Bush administration wants to bail out their banker buddies, and stick us with the goddam bill for the rest of our lives. That’s the difference between the 1930s and now. Politicians actually gave a damn about the people, rather than just lining the pockets of their corporate whoremasters."

And, thanks to the highly-developed and super-sophisticated techniques of the modern public relations industry, a sufficient number of voters will continue to be programed to believe that right-wingers have their best interests at heart.

It's doubtful that anything other than a full-on '30s-style depression can turn this around.
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Re: Solutions to Global Monetary System Meltdown

Unread postby wisconsin_cur » Fri 19 Sep 2008, 01:32:08

$this->bbcode_second_pass_quote('ReverseEngineer', '')$this->bbcode_second_pass_quote('MrBill', 'L')ife is a game of attrition. Some quit because they cannot hack it. Some leave because they have found something better. I will leave on my own terms.


Absolutely true. I will tell you one thing about myself, I NEVER quit on an argument. In a war of attrition, I ALWAYS win. You will go down here before I do MrBill, you cannot outlast me. You will give up arguing with me. I GUARANTEE IT.

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Which just goes to show that you are less interested in conversation, learning and movement toward truth. You want to talk until the other person walks away.

That does not mean you won or that you are right.

It means you are not a very good conversation partner... or just plain unreasonable...

on the issue of reason do you have any intellectual responses to the questions brought to you or just this little tantrum?
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Re: Solutions to Global Monetary System Meltdown

Unread postby ReverseEngineer » Fri 19 Sep 2008, 03:08:15

$this->bbcode_second_pass_quote('dohboi', 'S')orry to be so late in responding, but back a ways specop said:

"How that would apply to ecological stewardship is through allowing companies to grow."

Hmmm...errrr...

Growth is the problem. A system that encourages endless growth as an inherent good is not compatible with "ecological stewardship." Claiming otherwise is the last word in self-serving rationalization.

We are in multiple historic crises of global proportions. I don't have a clear picture of what a real comprehensive plan to address these crises would be, but they are so deep, I suspect anything effective would require a lot of pain from everyone, especially from those who have the most--which on the global scale would presumably include everyone on this forum.

But we have for so long been so deeply inside the ideology that says that "I should never have to give up anything for anyone." I can't see that almost any of those deeply convinced of this ideology will change.

To say that greed is the problem is kind of bizarre. Greed was the engine for the "magic of the market" when things were going relatively well.

Capitalism is based on and must encourage endless and ever more ruthless greed. You can't say "It's not the system, it's greed." Greed is what the system is based on and what the system must perpetuate.

Those who can see this probably already know it. Those who can't will howl their refusal. Not really much use belaboring it further.


As a population, Americans love to love the lifestyle and the "progress" we achieved through capitalism, but of course it came at the expense of others and the expense of the ecosphere, not acknowledged by those who benefitted from it.

In its most recent hyper-expansion over the last decade through the derivatives market, what wealth there was in the world was consolidated into the hands of a few, but as the real wealth started to run thin, there began a Poker Game with various players cashing in their chips to other players in the game. Soon there will be no game of course, with only one player left standing there is no game to be played. To prevent that from happening, more chips are being issued to the remaining players, but no chips are given to the players who cashed out a while back. No matter how many chips you issue to the remaining players though, it still remains true that at the end as long as you keep playing the game, only one of them can be the "winner" here.

So in the end, say the Chinese end up with ALL the chips. They OWN the US, Canada, Russia, India, Europe, Africa and Australia, at least on paper they do. So now I guess this means they have the right to foreclose and force all the people out of their home countries if they can't pay their bills? What? First off, where do these people GO; second China made the obvious mistake of loaning out to a borrower who cannot pay back on the loan! They expect a return on the investment but you cannot leed money from a stone, or a broke and out of work ex-Owner of a construction company either.

Anyhow, the results of this is complete anarchy all over the world, quite in evidence right now. Traders here who played by rules they thought were immutable facts of life see those rules broken every day. The metaphor was used in another thread of "Alice Through the Looking Glass", nothing seems to make sense anymore. Of course not, the rules change every day.

How some order will be restored here is an open question. Clearly however, no order is coming through applying the rules of Capitalism. What sort of society evolves in the aftermath is anyone's guess, but no its not going to happen overnight, nor does it necessarily mean the world is coming to an end.

We are at the Zero Point, and no Rules apply anymore, at least no rules that man makes, only the rules of Nature remain Immutable. You cannot Make Something from Nothing. What goes UP, must come DOWN. Work and Heat are Thermodynamically Equivalent. Those are RULES you can depend on staying true no matter WHAT. Work your system upward from those principles carefully, and maybe you end up with something sustainable. Create Rules or Money out of Thin Air, you have got a House of Cards that WILL tumble down, and so it is now. The only remaining question is precisely how long it takes to reach absolute bottom.

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Re: Solutions to Global Monetary System Meltdown

Unread postby MrBill » Fri 19 Sep 2008, 03:26:08

$this->bbcode_second_pass_quote('Quinny', 'M')r Bill

I respect your opinion and the coherent arguments you put forward. On this issue in your previous post you were defending your right to keep the privilege of inheritance and higly paid job, and then go on to point out how population will need to fall to about 5% of what it currently stands at.

Do you really think that if population falls to the levels you suggest that jobs like you currently occupy will exist?



$this->bbcode_second_pass_quote('MrBill', 'A')h, the pastoral lifestyle of the hunter, gatherer and farmer. Teach the young 'uns how to hunt and fish. Reminds me of Robert Browning. So romantic. Now, how to engineer a population decline from 6.7 billion to maybe 300 million? Maybe we can all survive by hunting caribou? Is your PC organic? Made from local roots and shoots? Connected to a bio-internet? Because I assume those that consume modern conveniences are as Evil as those that provide them? ; - ))

Why should the winners - those that have managed to accumulate wealth, that are healthy, that successfully reproduce in a responsible manner, that educate their offspring, that can provide for their future, until such a time that they can provide for themselves sign-up to your plan where not only do they lose - at a stroke - what has taken generations to acquire, but they get zero benefit other than to see their children compete in a no holds bared survival of the fitness (dumbest) lottery?


Wow, wow, wow. That is not fair. That is inaccurate paraphrasing of my argument. And it ignores the arguments put forth by RR that my answer is in rebuttal to. Back up. The argument was to 'reboot' the system by confiscating everyone's wealth. Then replacing the existing system once everyone is back to square one with a dog eat dog 'Lord of the Flies' existance. RR claims not to be a fascist or a communist, but a Darwinist and a utilitarian. As no one else would take his flawed arguments - many that contradict themselves - to task. I did.

I did not advocate any solution that would result in the population plummeting to 5% of its current level. But RR feels himself morally superior to me because he has the leisure time to hunt and fish. My point was simply that in order for all of us to live from caribou hunting and catching salmon about 95% of us would have to die-off, so that there would be enough wildgame for the rest to live off. Nothing more, nothing less.

As for my job. Before I was a banker, I was a carpenter and a bricklayer. I cleaned toilets. But my toilets were always the cleanest. I can take pride in any job done well. I do not define myself by what I do for a living. Someday I will return to the farm and I will take pride in a clean yard, a big garden and the many projects that I have built with my own two hands. Pride in workmanship.

I call it doing a job well. I issued the first SKK eurobond. That eurobond established a new benchmark. Since that eurobond was issued interest rates have fallen by more than three-quarters. The proceeds from that eurobond were used to build a real factory. That real factory employs thousands of employees. It accounts for one-third of a country's exports and six percent of GDP. That is only one accomplishment. I have others that I am equally proud of. Like helping to build the largest banking network in CEE. Not alone, but part of that process. Helping former CIS countries eventually join the EU and then ERM. I enjoy hunting a fishing too. But sometimes our higher calling is more important.

Will I have a job post peak oil? Yes, I will have a job doing whatever it is that I want and that I enjoy. Will I be a banker, still? Gosh, I hope not. I have already done that. It is time to do something new and challenging. RE: inheritance. I certainly do think that my money that I have earned is my own. It is my right to pass it along to my children, grandchildren, nephews or godson as I see fit. What right do you have to confiscate my wealth? Did you earn it?
Last edited by MrBill on Fri 19 Sep 2008, 03:55:17, edited 2 times in total.
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Re: Solutions to Global Monetary System Meltdown

Unread postby MrBill » Fri 19 Sep 2008, 03:45:44

RR, I assume you live in Alaska as you hunt caribou and fish for salmon. Am I correct? You think that makes you morally superior to those of us that must make a grimy living by getting our hands dirty in business. But I would just like to point out that you are living in a system, and off a system, that is paid for by grubby little capitalists like myself.

Everything you buy whether it is at Wal-Mart or from the corner store is partially subsidized by mass consumerism. Get used to it. The 'price' you pay for whatever you buy is spread across the whole population. So whether you buy guns and ammo or fishing tackle your purchase is partially subsidized by someone that buys plastic crap from China. It is called economies of size and economies of scale.

You drive, so the 'cost' of your car (or pick-up) is subsidized by everyone else that drives. Or did you think the car company built that automobile especially for you? And on it goes. Public roads. Public power. Your PC is one of millions. It took millions to bring the cost down to the level that you could afford one. The hypocrisy of the Green Movement is not that they are trying to make a difference, but often that they forget that their minimalist lifestyles are in fact subsidized by everyone else's consumption.

You confuse your lifestyle choices with being somehow morally superior when in fact it is just having enough leisure time and living in proximately to where you can hunt and fish. Does that make you better than the factory wage slave living in Asia that has neither much free time nor lives in Alaska?
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Re: Solutions to Global Monetary System Meltdown

Unread postby ReverseEngineer » Fri 19 Sep 2008, 03:55:54

$this->bbcode_second_pass_quote('MrBill', '[') RE: inheritance. I certainly do think that my money that I have earned is my own. It is my right to pass it along to my children, grandchildren, nephews or godson as I see fit. What right do you have to confiscate my wealth? Did you earn it?


I don't have to confiscate your wealth, governments all over the world are doing that for me. Printing out enough money to make it all worthless, and then playing Poker with each other to see who holds all the chips in the end.

You do have some REAL wealth in terms of property, however that is of course subject to the laws of your country at any time. A small group could confiscate all of the wealth and declare themselves the owner of your property, that would be called National Socialism or Fascism. A large group could confiscate all of your wealth, that would be called Communism. Which way will it go for Canada? I have no idea. In either case though, the indivdual holder of wealth won't do well unless he picks the winning side in this battle. So that is the final trade you have to make here, the final bet in your long career. On which side do you bet for Canada?

In abstract, you did identify the major moral quandary I have as well. I don't like the results of either of these ideas any more than you do, we are of like minds in this regard at least. So at some points in my arguments you will find me in favor of Military Rule, other times you will find me arguing for mass insurrection. I am surprised nobody identified this flaw directly, though Mos came close at times.

In the end, I see the results of this going local, I do not see the large military infrastructure as working all that well without much of a gas supply to keep the tanks rolling. The individual communities will go down one route or the other in trying to hold together well enough to become sustainable in their particular location. However, how long it takes to get to that point I do not know, in the intervening period what remains of the centralized wealth may be used on a mass scale of destruction. Tha would be a sad result of course, because in addition to the consequences of environmental degradation which seem to insure mass extinction, most certainly a thermonuclear war would guarantee that result.

For myself, I do the best I can to navigate the Zero Point. I survive as I always have, by my wits and ingenuity. I still play in this game, I am a small player on the periphery of civilization however. I have no idea how long I can make it last, but I make my preps anyhow. As we all do here who have a CLUE as to what is going on.

I'll try to avoid the moral pitfalls best I can before I die. I'll do the best I can to help those in my neghborhood to survive with what I know and what I know how to do. I hope you do the same.

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Re: Solutions to Global Monetary System Meltdown

Unread postby MrBill » Fri 19 Sep 2008, 04:01:10

You seem happiest living in 1750 or in a post Mad Max world. I live in the here and now. I try to make the best out of what is.
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Re: Solutions to Global Monetary System Meltdown

Unread postby ReverseEngineer » Fri 19 Sep 2008, 04:18:05

$this->bbcode_second_pass_quote('MrBill', 'Y')ou seem happiest living in 1750 or in a post Mad Max world. I live in the here and now. I try to make the best out of what is.


Not precisely true. I am happiest living the way I do now, I do work I enjoy and I have a lovely view of trees and mountains out my window, and I have plenty of food and the fridge works and so does the toilet.

When I make the arguments about 1750, that is just a projection of how I think it might end up once all is said and done, assuming we have not insured species extinction through the rampant greed evident since man first emerged out of the trees of Africa.

Would I be "happy" in that environment? Having lived as I have lived, with the benefits of modern civilization, a computer to write my thoughts on and all the rest, I would not be all that happy. Sad to see a dream die of course.

I live in the here and now also. The here and now is a Monetary System Collapse. You see that as well as I do, just our reactions to it are different because we have fundamental differences in how we view wealth and money. I do like discussing this with you Mr Bill, contrary to the opinion of some folks who see my occassional petulant outbursts as beign counterproductive to discussion. I don;t see it that way. I just occassionally rev up the debate to see what flies out of it :-)

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Re: Solutions to Global Monetary System Meltdown

Unread postby Quinny » Fri 19 Sep 2008, 04:49:55

I apologise if you feel unfairly paraphrased, it wasn't intended. I genuinely thought that was what you meant, and didn't realise that you were merely suggesting that it was RE's point that population would diminish to those levels.

I personally think that the level of 5% is probably a low estimate, but do believe we are in an overshoot situation.

I do have a problem with inheritance, as it can lead to parasitic behaviour and the long term build up of massive inequalitites that have nothing to do with merit.

$this->bbcode_second_pass_quote('MrBill', '')$this->bbcode_second_pass_quote('Quinny', 'M')r Bill

I respect your opinion and the coherent arguments you put forward. On this issue in your previous post you were defending your right to keep the privilege of inheritance and higly paid job, and then go on to point out how population will need to fall to about 5% of what it currently stands at.

Do you really think that if population falls to the levels you suggest that jobs like you currently occupy will exist?



$this->bbcode_second_pass_quote('MrBill', 'A')h, the pastoral lifestyle of the hunter, gatherer and farmer. Teach the young 'uns how to hunt and fish. Reminds me of Robert Browning. So romantic. Now, how to engineer a population decline from 6.7 billion to maybe 300 million? Maybe we can all survive by hunting caribou? Is your PC organic? Made from local roots and shoots? Connected to a bio-internet? Because I assume those that consume modern conveniences are as Evil as those that provide them? ; - ))

Why should the winners - those that have managed to accumulate wealth, that are healthy, that successfully reproduce in a responsible manner, that educate their offspring, that can provide for their future, until such a time that they can provide for themselves sign-up to your plan where not only do they lose - at a stroke - what has taken generations to acquire, but they get zero benefit other than to see their children compete in a no holds bared survival of the fitness (dumbest) lottery?


Wow, wow, wow. That is not fair. That is inaccurate paraphrasing of my argument. And it ignores the arguments put forth by RR that my answer is in rebuttal to. Back up. The argument was to 'reboot' the system by confiscating everyone's wealth. Then replacing the existing system once everyone is back to square one with a dog eat dog 'Lord of the Flies' existance. RR claims not to be a fascist or a communist, but a Darwinist and a utilitarian. As no one else would take his flawed arguments - many that contradict themselves - to task, I did.

I did not advocate any solution that would result in the population plummeting to 5% of its current level. But RR feels himself morally superior to me because he has the leisure time to hunt and fish. My point was simply that in order for all of us to live from caribou hunting and catching salmon about 95% of us would have to die-off, so that there would be enough wildgame for the rest to live off. Nothing more, nothing less.

As for my job. Before I was a banker, I was a carpenter and a bricklayer. I cleaned toilets. But my toilets were always the cleanest. I can take pride in any job done well. I do not define myself by what I do for a living. Someday I will return to the farm and I will take pride in a clean yard, a big garden and the many projects that I have built with my own two hands. Pride in workmanship.

Morality? I issued the first SKK eurobond. That eurobond established a new benchmark. Since that eurobond was issued interest rates have fallen by more than three-quarters. The proceeds from that eurobond were used to build a real factory. That real factory employs thousands of employees. It accounts for one-third of a country's exports and six percent of GDP. That is only one accomplishment. I have others that I am equally proud of. Like helping to build the largest banking network in CEE. Not alone, but part of that process. Helping former CIS countries eventually join the EU and then ERM. I enjoy hunting a fishing too. But sometimes our higher calling is more important.

Will I have a job post peak oil? Yes, I will have a job doing whatever it is that I want and that I enjoy. Will I be a banker, still? Gosh, I hope not. I have already done that. It is time to do something new and challenging. RE: inheritance. I certainly do think that my money that I have earned is my own. It is my right to pass it along to my children, grandchildren, nephews or godson as I see fit. What right do you have to confiscate my wealth? Did you earn it?
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Re: Solutions to Global Monetary System Meltdown

Unread postby wisconsin_cur » Fri 19 Sep 2008, 04:59:41

A fool and his money are soon parted...

especially when the money was inherited.

I have avenues open to me by little more than the chance of birth. My paternal great grandparents were highly regarded in the area that I grew up in... All I had to be was a nice young man with that last name and those of my grandparents generation were very kind and generous and taught me many things.

My mother and father passed on a lot of information and cultural learning that is quickly passing away, information and learning that will give me a small leg up in a world of declining energy.

Now my dad did not go to Harvard and I did not receive the preparatory training that helps build the networking and ambition to become the head of Goldman Sachs, but I have my own inheritence and I am satisfied with that.

I find much of envy comes from not appreciating what we truly have because we are distracted by the possessions of others. I would not trade places with anyone... Money is a small thing... character, self-definition, a narrative, those are the true inheritances that we should value.

...although I could put 50k to good use if it were to fall in my lap :)
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Re: Solutions to Global Monetary System Meltdown

Unread postby ReverseEngineer » Fri 19 Sep 2008, 05:12:10

$this->bbcode_second_pass_quote('Quinny', '
')I personally think that the level of 5% is probably a low estimate, but do believe we are in an overshoot situation.

I do have a problem with inheritance, as it can lead to parasitic behaviour and the long term build up of massive inequalitites that have nothing to do with merit.


I stick to my projection of slightly under 1B human souls, the population extant in 1750. Something around 20% of current population.

This is purely an economic estimate, it does not take into account the environmental degradation as a result of the massive burning of fossil fuels over the last century. This could make the problem significantly worse, bring total population down to less than 1% of current numbers. My hope would be that as population decreases, the Earth rebounds some in response, to end up balancing out at the 20% point. However, chances are we undershoot that number before we work back up to it.

The problems of Inherited Wealth are similar to the problems of Interest on Loans. Over generations, it alllows for too much centralization of wealth. Each generation needs to start anew, survival of the fittest. IMHO, nobody should start out in life with more than say 2 years worth of food. After that, you either produce or you die. Parents can support children until they have reached reproductive age, at which point this human being is responsible for themself.

In order to make this possible, NO person can ever accumulate more than 2 years worth of food and hold it. Anything extra must be distributed out to the population at large. No such accumulations of wealth can be permitted. If you have two children, you have to divide out the 2 years worth between them, for only one year start up capital.

Keeps the population in check.

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Re: Solutions to Global Monetary System Meltdown

Unread postby MrBill » Fri 19 Sep 2008, 06:10:54

$this->bbcode_second_pass_quote('', 'I') do have a problem with inheritance, as it can lead to parasitic behaviour and the long term build up of massive inequalitites that have nothing to do with merit.


As they say, 'short-sleeves to short-sleeves in three generations'. Paris Hilton's grandfather built the wealth, her and her parents are simply spending it. Do you really think Paris Hilton's children will inherit much? Certainly not the values of hardwork and discipline needed to be truly successful. Nothing on which to build an empire.

Social mobility works in both directions in a meritocracy and a market economy. Look at W. Buffet, J. Rogers and B. Gates. Actually due to drugs and alcohol you actually find quite a lot of downward social mobility. Whereas through hardwork someone can still manage to get a good university degree and find a good job. What they make of that is up to them.

Not everyone can or should go to a Ivy League school. There are plenty of good state schools that offer a first class education. I went to the University of Alberta and got a degree in Agriculture before going to Purdue to get my Masters. I did not get any help from my parents. I worked up to three jobs at a time during the summer - up to 100-hours per week - to pay for my own university. I think I graduated with less than $5K in debt (if that) that I quickly repaid.

What I did inherit from my parents is my work ethic. My father was a big believer in sweat equity, so nights and weekends we rennovated houses that we either sold or rented out later. Or worked on the farm. Somedays when we were working hard - hot and sweaty - we used to laugh and ask ourselves what the poor people were doing? At night we sat around the kitchen table and talked about building projects, real estate and investing.

I once tried to blame my parents for who I was. My logic was that they formed me by my upbringing. Basically, they set me straight by telling me that such statements are a cop-out. Anyone over the age of eleven knows the difference between right and wrong. An adult is responsible for their own decisions. Anyone that is over forty and still blaming their parents for anything is just avoiding taking responsibility. Looking for excuses because they cannot honestly look at themselves in the mirror and admit they are who they chose to be.

I do not know about parasitic behavior. Some rich brats may live off their parents money, but then so a lot of lower income people live off social assistance too. I do not envy them. As I matter of fact when I watch such programs as Livestyles of the Rich and Famous, and I see excesses and the wanna bes, I just feel sorry for them. If that is what they need to feel happy then they can have it. I will take my health, my simple lifestyle and my financial security and try to live a long and happy life instead. Friends and family are much more important than stuff.
The organized state is a wonderful invention whereby everyone can live at someone else's expense.
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Re: Solutions to Global Monetary System Meltdown

Unread postby wisconsin_cur » Fri 19 Sep 2008, 06:18:13

$this->bbcode_second_pass_quote('ReverseEngineer', '
')In order to make this possible, NO person can ever accumulate more than 2 years worth of food and hold it. Anything extra must be distributed out to the population at large.
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I thought each person was suppose to earn their own keep in your new order and if they could not produce their own calories they were suppose to be fed to the bears?

If I want to produce extra calories so I can have enough to get through three bad harvests what is that to you? In fact should everyone be able to weather as many bad harvests as possible (seven skinny cows devouring the seven fat)?

You are very free in how you would distribute other people's sweat and smarts.
http://www.thenewfederalistpapers.com
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Re: Solutions to Global Monetary System Meltdown

Unread postby ReverseEngineer » Fri 19 Sep 2008, 06:41:14

$this->bbcode_second_pass_quote('MrBill', '
')Not everyone can or should go to a Ivy League school. There are plenty of good state schools that offer a first class education. I went to the University of Alberta and got a degree in Agriculture before going to Purdue to get my Masters. I did not get any help from my parents. I worked up to three jobs at a time during the summer - up to 100-hours per week - to pay for my own university. I think I graduated with less than $5K in debt (if that) that I quickly repaid.


I did go to an Ivy League school, as did my cousin who is a Mathematics Professor at Yale and did undergrad at Harvard, and our whole extended family worked up from humble beginnings also. Her dad was a History Teacher in the Public Schools on Long Island, my dad was a Vice President for Chase Manhattan after growing up in his dad's bar in Brooklyn, which he openned after working the high steel building skyscrapers as they first went up in NYC.

Due to dissolution of my family as I grew to my college years, I ended up having to pay for my own education at Columbia. I worked double shifts as a Medical Technologist to do so.

During that time period, I had plenty of opportunity to witness the dichotomy of opportunity between those born to priviledge and those who get there on their skills and ability. You gotta be simply brilliant to get anywhere near the opportunity these folks have GIVEN to them. I lucked out in that game, I went to Stuyvesant HS in NY, the Public School that produced more winners of the Westinghouse and more Ivy League graduates than even Phillips Exeter or Andover. I had friends who went to Choate, my biology partner in HS ended up heading the Whitehead Institute at MIT on the Human Genome project.

Did I deserve my opportunities? I don't know, but I do know a certain amount of what I came to be results from the fact that a good NYC High School was funded on the public dime by the taxpayers. There is based on my own life public good to be done by divying up general wealth to give opportunity to the next generation in GENERAL, not just your OWN progeny.

Unless you figure that my education was a waste because I did not use it to trade on the market, and live my life at the expense of the suffering of another? How do you make such a value judgement? Its beyond me. I could not do that, so I left it behind. You have to let go of wealth as a determining factor of worth. If you do not, you succumb to greed.

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