Re: Fatal Flaw in Logic of the Crash Course?
Erikha: you’re almost right I think. But the system is centuries old, and I think it has reached the point, where capitalist own all the money, a long time ago. At that point however some kind of equilibrium must occur, were increasing either interest or debt, doesn’t lead to more bank profits, but only to more bankrupcies.
I suppose that the real problem is speculation: by blowing up the real estate bubble, flooding the market with money, more debt could be created and sustained than before. Now the system is working it’s way back to equilibrium at great losses for the majority of capitalists. I think the debt money system could run stably, if it wasn’t for the bubbles.