Originally Posted by euser1984
when you add everything up it becomes more complex - for example if china had problems with logistics or production due to unrest; there is no way to predict the knock on effects, on economies that rely on chinese products to do business - it's a complex set of relationships that governments ideally should not experiment with.
every system is simple if you break it down enough
what will actually cause a problem, it could be ireland or italy, venezuala and is going to hit germany big time whether they cause it or not - so economists cannot predict that or knock on effects just like nobody can predict the future - nobody really pointed at wall street before 2008 because they didn't know the problem would come from there; but also you can't tell people to stop spending during the good times and certainly cannot say to investors that we're gonna pull the plug on their profits
the irish are particularly renowned for greed and don't take any responsibly upon themselves - leading to every taxpayer in the country having to handle the bar tab in 2008.
ireland caused about 49% of the whole EU problem and germany gave us their citizens pension funds. now we are doing the same thing; and as a consequence the public are giving their money to the rich to prevent this kind of ****e happening in the first place somewhat....then when things go t*ts up everyone wants the rich to give back money - but redistribution of wealth is impossible with any currency models we use today and that is not on purpose
there are potential flaws, but the main contra is for the banks, pro for many.... if I have the blockchain downloaded to my computer and a million others have it downloaded how can you edit the history on the database without having to modify every single persons system that is connected
if I try to modify the record on my own version of the database then every other holder would have to accept the change which it wouldn't because it would have the wrong mathematical values
just like the internet didn't break or get taken over "yet" blockchain is here to stay for the foreseeable future and is an innovation that came from the same type of individuals that created the internet in the first place
so simple, that its leading some economic experts to create alternative modelling systems based on things such as complexity theory and complex systems dynamics! i have reason to beleive that some of the most common economic modelling systems, such as dsge models, are far from simple, i suspect you maybe seriously underestimating the complexity of these systems.
i could point you do some individuals that spotted the crash before it occurred, and who were indeed pointing the finger at wall street. when 5 billion dollars a day flys into a system from around the world, from other countries surpluses, in which is invested in ponzi schemes, expect trouble!
its becoming clearly obviously, theres something fundamentally wrong with our complex financial and banking systems, the fact that banks actually create the majority of our money via loans should be causing concern for all citizens, maybe we deregulated these systems a little too much? maybe it would be a good idea to re-regulate this sector, and take our monetary systems back under some sort of democratic control? are the citizens of ireland, or indeed the citizens of all other countries greedy, or is there something far more complex going on here? were we as a nation actually coerced into 'accepting' the bail outs? these issues are far more complex than you make it out to be, if people dont realise, we ve effectively been scammed, by a highly complex plutocratic network.
the eu is a bust, or more precisely, the euro is a bust by design. creating an economic union with little or no surplus recycling mechanism in place is asking for trouble, its creates divisions, on many fronts, particularly wealth inequalities, its becoming clearly obvious that wealth within the union is centralising, this is not good for the longevity of the union. its also important to realise, countries such as ours were not in fact bailed out, but the financial institutions that fueled the boom in the first place were, by using tax payers money in doing so, and not just our tax payers money, but other European tax payers to.
blockchain is all well and good, but i suspect, and please correct me if im wrong, that you beleive banks are mere intermediaries in all this, and that they just facilitate borrowers and lenders?