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In reply to the discussion: Moby Dick [View all]
 

MannyGoldstein

(34,589 posts)
5. Oil, bankers
Sat Jul 19, 2014, 07:04 PM
Jul 2014

The root of most of today's awfulness lies, I believe, in oil and banking. Ultimately these are symptoms of the larger problems of greed and sociopathy, but those aren't as actionable.

I don't think there's much debate that the Middle East is a dysfunctional as it is because of oil. If the world moved to renewable resources, as Germany is doing, there'd be an opportunity to begin repairing the Middle East.

Let's look at Ukraine. Why is there a war? First off, the austerity con:

1. Banker-governments lend money to corrupt government
2. Corrupt government puts much of it in their personal bank accounts
3. Borrowing country's debt load eventually builds to risky levels.
4. Because of the increased risk, interest on loans to corrupt government shoots up, so now the country can't pay its debts... Unless...
5. Borrowing country agrees to austerity and all sorts of other awful stuff in exchange for the privilege of paying back all of its loans to the banker-governments at non-usurious interest rates.
6. The corrupt government flees with billions, invests it with bankers.
7. The austeritized nation sells their services and possessions to banker-governments really cheaply because they desperately need the cash.
8. The bankers effectively resell what they've purchased cheaply, at a huge profit.

In the case of Ukraine, the US and Russian oligarchs, each fronted by their respective governments, fought over who was going to take over at step 5. Each side ended up grabbing part of the country although that's not totally clear yet, so we have a war. So bankers can make more money.

There's also an "oil" issue with Ukraine, namely the natural gas pipeline from Russia to Europe which makes things all the more perilous.

So what can a president do? A president can lead the charge to renewable energy resources, and get the bankers under control. Until that's done, disaster and misery will continue to abound.

Moby Dick [View all] H2O Man Jul 2014 OP
I'd like to see some of that dancing with wild abdomen! Scuba Jul 2014 #1
It's called Belly Dancing. postulater Jul 2014 #2
For the past three days, H2O Man Jul 2014 #10
Be careful H2O Man Jul 2014 #7
Interest read, H2O Man. brer cat Jul 2014 #3
Thanks! H2O Man Jul 2014 #8
Moby Dick was not my cup of tedium. GeorgeGist Jul 2014 #4
I was on a whaling ship today. MannyGoldstein Jul 2014 #6
Oil, bankers MannyGoldstein Jul 2014 #5
Good points. H2O Man Jul 2014 #9
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