Monday 14 October 2019

Worshipping the god of debt

• I've tried to quantify what I think might represent a global crisis.

Maybe diminished water supply, or loss of breathable air, maybe a global freeze which could inhibit our ability to produce enough food to feed our growing numbers.

How about rampant disease, which is threatening our very existence?

The only widely accepted crisis in modern societies is a "financial" one.

Imagine that humans have created something from nothing and given it a value in our world which is so important that a fault in its stability is considered a global crisis.

Money is a completely imaginary concept which has evolved from something simple and understandable to a hugely complex beast which affects the sentiments of the developed world in a hugely inflated way.

How did we place so much power in the hands of financial traders? I wonder what kind of childhood these people had which led them to be so nervous, paranoid even, selling selling selling at any sign of ill-sentiment.

Strangely, in bad times they return to the roots of money, the precious metals, hiding until the "bad man" has stopped banging on their bedroom window.

At what point will people realise that money, in its current form, just isn't working?

In fact, it seems that every Western country doesn't have money, only debt. So much debt that they take out more debt just to furnish the interest on their existing debts.

Wealth is not a measure of how much money you have anymore, it's a measure of how much debt you can furnish. How sad.

Maybe it's time to rethink money. In its current form it just isn't working.

Derek Hosty
Address with editor

A refugee plays next to a camp in Somalia. Famine in Africa puts debt 'crisis' into perspective. John Moore/Getty

Irish Independent

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