A laymans expanation as to why we are all stuffed

C_Mababejive

http://www.youtube.com/watch?v=jwzZghSMnOY

theGrinch

greed then fear

Milarky

There is one serious error in the video - Stage 4, where it goes from 5% annual inflation to 1000% per day - there is no such mechanism.

Also, many people are aware of both the contradictions in the system of 'money-as-debt' economics (how could they not be) yet are powerless - even governments - to take a different tack*. It is interesting, too, how the system never completely breaks down [said the falling man, after passing the 13th floor] at any stage but merely picks itself up and reinvents itself. This, I think is the source of the idea that we 'never learn' from our experience..

*it may be possible in theory to abolish currency and go back to the comforting certainties of scarcity (most people dead by 40?) but it's scarcely realistic to think like that is it?

Reaper

What a load of rubbish. Somebody armed with a few facts and no knowledge of economics. Here are some of the errors:

1) Early on it says governemnts are continually printing money. No, the money supply is carefully watched and producing large amounts extra money is only done in moment of crisis for liquidity (eg the QE done recently) or stupidity (eg Zimbabwe printing money to pay debts).
2) Compounding means inflation accelerates over time. Wrong. The numbers might on the notes might get bigger faster but 5% inflation per year is always 5% inflation per year.
3) We are about to experience hyper inflation due to QE. No. QE was a counter to deflationary recession. If they got it exactly right there will be no inflation. (Actually that is pretty hard to do as it is an imprecise tool but with it currently at 3-4% after QE there is no sign of the doom mongers much heralded hyper-inflation). Also in theory the QE money is meant to be removed from the economy again in the future. While I am dubious it ever will be it might happen if inflation takes off seriously as that would damp it down.
4) Finally perhaps the biggest and most annoying error of all - throughout the presentation the author thinks quotes are used 'for emphasis'.