2014 Economic Crisis view in 2100. Future of Economy, Banking industry - Futurist keynote speaker
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When historians look back in 100 years time -- what will they make of the sub-prime crisis and all that followed? What links will they make between the rise of China as a mega-industrial nation, buying huge amounts of dollars, keeping their own currency low, and costs of borrowing low for developed nations. Of course we are talking about a wider issue than China, but China is a dominant force in this regard. The fact is that China's willingness to buy dollars and euros in the 2000s provided a very welcome boost for developed nations -- providing a lot of money at low interest rates. Both governments and individuals took advantage of this to spend on things they thought were important at the time -- running up huge debts, and driving these economies into a long boom, creating local jobs, improving infrastructure, health care and education. Video comment by conference keynote speaker Patrick Dixon
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Patrick thank a lot God bless
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Looking forward to your comments on these important issues. And thanks to others too for your comments on my others videos which many tens of thousands will read with interest over the next months.... Do share your insights and thoughts - and remember to tell us which country you live in.... I read every comment and reply where I can...
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@DavidAKZ Yes in the sense that many leaders did not seem to understand the fundamental rules of global economics....
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@Jimmyretired Hmmm - well I am interested in how other views think....
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@Jimmyretired Oh my.... who is "we" - what country do you live in? What you are saying is very controversial.
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@Jimmyretired With what? No European nations have an appetite or capacity for war making - even little Libya wiped out the French and UK defence budgets, while Afghanistan has worn out America. War is a possibility as a result of the current crisis - bit more likely in my view (I hope still very unlikely) to be result of Euro-land tensions in a macabre repeat of two huge conflicts in the last century. The European Union was specifically created to try to prevent a Third World War.
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History is full of idiots and accidents. Economy is complicated to understand with many unexpected consequencies from actions taken for noble reasons.
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a lot of money was available ? Er a lot of debt was available. Do you think the transfer of wealth caused by turning a (Credit Derivatives based) banking crisis into a sovereign debt crisis was an accident ?
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