Who says prosperity isn’t blowing in the wind? Here’s another green shoot forcing its way up through the rubble that was once our financial system. The world-wide total of all the derivative paper now in circulation exceeds a quadrillion dollars.
This is a number so far out in an alien galaxy that our brains can’t comprehend it. John Michael Greer puts it into perspective for us. Multicellular life first appeared on earth 3.5 billion years ago. If, with the first appearance of this life, an individual started spending $2000 a day, he’d still have money left over.
The kicker is that this paper is virtually worthless since there ain’t a quadrillion dollars of nonfinancial stuff on the globe. It’s all funny money. Our bankers are out there skipping through La-La Land, and all they have in their wallets is pixie dust.
And these are the jokers who are running our economy?
Tuesday, September 8, 2009
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