This series of two videos explains the European debt crisis via a series of entertaining cartoon drawings and pretty simple, easy to follow explanations. It is funny, entertaining and simple to understand. I encourage everyone to watch, and learn about economics, even if you never took an Economics class in college. Although somewhat simplified, it does cover some important key points that everyone should understand.
These videos, do not cover credit swaps, and derivatives markets, which are an even bigger mess, again caused by financial institutions, not the average person on the street. But guess who pays to try and clean up the mess?
Part I
Part II
So what does this mean for the average person? Bottom line, there is a real danger of complete monetary collapse at some point, both in the weak countries these videos are pointing at, but also in other countries, including the US. Why? Because debt cannot be piled on top of debt, while cutting essential community services forever.
The shell game that banksters are playing right now is that they get paid in good times out of profits. They also get paid in bad times. However, to make this work in bad times, cuts have to be made in essential services, such as police, fire, schools, parks, roads, bridges, art, science, recreation, as well as pensions, union wages, and the like. This money gets transferred to the banksters, who make even more profits, while average people suffer with unemployment, lower wages, less benefits, and more suffering all the way around.
At some point, the whole thing collapses like a house of cards. When that happens, hopefully your community has a local currency, a barter system and it is self reliant in terms of renewable energy sources, LOCAL food production and LOCAL jobs. If you do not see this in your community, start building things like organic community gardens, renewable energy sources, and local money sources now, because it will more than likely be the ONLY things working when this all happens.
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