A Quote by Charles Eisenstein
The financial crisis we are facing today arises from the fact that there is almost no more social, cultural, natural, and spiritual capital left to convert into money.
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Contemporaneous with the financial crisis we have an ecological crisis and a health crisis. They are intimately interlinked. We cannot convert much more of the earth into money, or much more of our health into money, before the basis of life itself is threatened.
In fact, the environmental crisis is related to the crisis of aesthetics, crisis of social cohesion and the crisis of spiritual values.
There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.
The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.
One of the special characteristics of New York is that it is different from a London or a Paris because it's the financial capital, and the cultural capital, but not the political capital.
The problem facing humanity today is not a political problem; it's not a financial problem; it's not a military problem. It's obviously a spiritual problem. That is, it has to do with what we believe to be true about who we are, where we are, why we are where we are, and what are we doing on the Earth. What is the purpose of life itself? What we need right now are leaders or models, people who will stand up and not only help to write a cultural story, but help to model it in the way that they interact with each other.
Hip-hop has been so important in my work, because it speaks to the idea of money being tied to cultural capital in an honest and transparent way. When I was growing up in LA, money was equivalent to class, and it was a passport. Hip-hop emphasizes that, but Hollywood and show business bear it out. If you have money, there really is no barrier to social mobility. There are still social clubs in Newport where you can't get in even if you have money, but that is really rare.
By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.
Throughout the industrial era, economists considered manufactured capital - money, factories, etc. - the principal factor in industrial production, and perceived natural capital as a marginal contributor. The exclusion of natural capital from balance sheets was an understandable omission. There was so much of it, it didn't seem worth counting.
The heart of the 2008 financial crisis was a coterie of reckless financial executives, working for too-big-to-fail financial companies, who were handsomely compensated for taking risks that almost ruined the economy when they failed.
These two entities Fannie Mae and Freddie Mac are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.
The widespread inability to understand technological artifacts as fabricated entities, as social and cultural phenomena, derives from the fact that in retrospect only those technologies that prove functional for a culture and can be integrated into everyday life are 'left over.' However, the perception of what is functional, successful and useful is itself the product of social and cultural--and last but not least--political and economic processes. Selection processes and abandoned products and product forms are usually not discussed.
President Obama has a good sense not just of the economic requisites for financial crisis firefighting but also how you build political support for moving forward on reforming the financial system, making sure that the banks are carrying enough capital.
We are in a crisis today because the practical consensus between the left and the right, linking economic efficiency with social protection, has broken down
One of the very difficult parts of the decision I made on the financial crisis was to use hardworking people's money to help prevent there to be a crisis.
But these days, there's also a strong economic argument for doing away with capital punishment. With California facing its most severe fiscal crisis in recent memory... it would be crazy not to consider the fact that it will add as much as $1 billion over the next five years simply to keep the death penalty on the books.
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