This video is fantastic. I feel much smarter now. But not any better.
Thanks Fog City Journal.
- Author: Digidave
- Published: Oct 2nd, 2008
- Category: Advertising/Business
- Comments: 2
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Gerard Barberi
on Oct 2nd, 2008
@ 9:43 pm:
Yeah, I recall watching a variant of this on youtube almost a year ago. It was difficult to understand by the second part.
This is a product of our American greed and fundamentalist concept of freedom (you know: don’t tread on me… or my wallet). I am free to make as much money as I want. I work hard, my work is significant. Therefore, I should be compensated increasingly.
Problem is they refuse to see that resources are finite and that everyone can’t have everything they want without “taking” from others. So, what do people do? Create a new resource: debt. It can be infinite, right???
No, and now it’s coming to bite us all in the ass.
Digidave
on Oct 3rd, 2008
@ 11:04 am:
Gerard
Yup – that’s basically the video. It is interesting to learn the history of it though. This concept of debt is now the only way people can make money.
I know it all too well. I still owe Columbia money – but that student loan was arguably necessary.
What really gets me is that the interest allows people to make money for doing nothing but lending money in the form of debt. Seems like the ultimate scam job to me.