The financial system failed in 2008, and stayed that way

I totally agree with Dimitry Orlov:

  • “Energy’s exponential growth stopped in 2005 due to resource depletion; three years later finance collapsed. Permanently. Since then we have been witnessing a global game of “extend and pretend,” which cannot be played indefinitely. If something can’t go on forever, it doesn’t.”
  • “when Apple Computer parks its cash offshore, that’s called “minimizing international tax exposure.” But when a Russian company does it, it’s called “international money-laundering.” Cheating and stealing are the last two competencies left in modern finance, yet when Russians do it it’s somehow considered bad? That is just hypocrisy pure and simple.”
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