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View Diary: The Financial System is Insolvent Due to Fraud, and it Will Collapse (28 comments)

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  •  markets make famines (6+ / 0-)

    The world produces plenty of food to feed the world's population.  It's the global financial elite that price food out of reach of millions of people.

    What will happen is that governments and global economic agencies will declare that the prices of basic commodities - food, fuel, etc. - cannot be allowed to fall below a "critical level" at which profitability becomes impossible, on the grounds that this really will cause the 1% to "go Galt" and stop production.  As you go down the income ladder, people will cut back severely everywhere else - triggering a major recession all by itself - in order to keep eating, then they'll cut back on food, then they'll find they can't afford food no matter what.

    Do you know why they call it the American Dream? Because it only happens when you're asleep.

    by Visceral on Tue Nov 01, 2011 at 03:43:15 PM PDT

    [ Parent ]

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