30 Sep 2011

Trader interview: hoax or not it is disturbing

I was forwarded a link to a YouTube of a BBC interview - the interviewer was shocked by the traders 'honesty' about the likely collapse of the Eurozone - it is 3minutes and worth a look:
http://www.youtube.com/watch?v=jsDjTbP7TS0

Interestingly stories have started emerging suggesting this might be a hoax, but apparently not so:
http://www.guardian.co.uk/media/2011/sep/27/trader-goldman-sachs-bbc-hoax?newsfeed=true

Green Party's Derek Wall comments on his blog: "Markets can only think instant profit. Speculation is going to kill the economy. Capitalism is going to kill the planet. Politicians like Clegg, Cameron and Miliband race to see who can do the most for bond traders. We must resist or face oblivion."

All depressing stuff on such a beautiful day but there comes a time when we have to face up to the total unsustainability of our economic system - see Stroud Green councillor and economist's comment a couple of weeks ago on the Eurozone troubles: http://gaianeconomics.blogspot.com/2011/09/two-bald-men-fighting-over-comb.html Molly also has a link to a suggested way forward.

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