For anyone interested we have begun to put sections of the Lancaster talk up on the Debt Generation Youtube channel.
The first part called “Do we still live in a Democracy” is here.
We have six sections which we will put up, one per day. It just too long time to render and upload them all at once.
High Anxieties is already there and we will put Dangerous Knowledge and others up as well, when we find the time.
I don't like being first to post as I'm shy 🙂
I like to leave that to Rich.
Great video mate. When the summer comes and if we haven't flipped the script you should organise a camp out with a big fire as it would be great to hear you talk with your face flickering in the light like a Tarkovsky film.
I'll bring some bankers and regulators to keep us warm and some marshmallows too.
No we don't, we live in a representative democracy.
When you go to the polls you give your bit of power to your elected representative, even if you did not vote for them. ( I once asked my MP how much a billion was at the time of the bailout, she did not know, and it seems watching trillion pound horror show she is not the only one)
Your question I think is not about that, its about how well a democracy functions, does the truth out? why do we fall (and we all do in one way or another) for mass delusion.(football seems to be the main one)
The answer I think is Induction. If an idea or argument fills my information gap, as humans only have a finite amount, than that idea is what stands.
It is hard for a bloke out at work 9 till 5, working to feed his family to sit down on an evening and work out the workings of the banking system and its recent near collapse,they relay on the media.
So why do intelligent people, trained in our universities, working in our media make the same mistakes or is it a conscience effort to deceive?
The answer to that question is a bit more tricky. imagine for one minute that everyone knew the state of our banks and there workings, would that be a good thing? In a way I think the mass delusion acts of a sort of anti-depressant. at the end of the day people have to get on with their lives. The media as well as the government do not have it there interests even if they do understand the issues involved to provoke mass panic, so it becomes a self fulling prophecy.
My gran once told me that the war years were the happiest years of her life, even in the dark days when they did not know if they would live, when it seemed certain we would lose, the idea that things would turn out all right is part of our human psyche. Mass delusion is not necessarily a bad thing, and in itself does not diminish democracy.
I think over time the trial and error process prevails and history is written.I suppose its a bit like looking back at a old photo and being embarrassed.
Glad you have found "markets" to be more truthful than people, and I am a surf and turf type of guy, just so you know.
anyway, I look forward to the next clip.
David, avid reader, first time poster. I was just wondering if your planning any talks over the holidays in the London area. I'm flying in from Calgary to spend time with family. Please let me know if you are…
I've found a very good expanation of the terminus "Democracy" and now I know better why I had some difficulties with this theme. It is nowadays the most dissabused word permanently on the lips of everyone without any understanding of its deeper meaning.
http://www.youtube.com/watch?v=DioQooFIcgE
Democrazy
Thanks for taking the time to post these videos. I couldn't make it to the talk and it is great to see you in action. Looking forward to the next clip.
Good warm-up 24K.
Sean, you make very good points about mass delusion, but perhaps this is the only way so many people can exist cheek by jowl without turning savage. Scenes from Lord of the Flies spring to mind.
However, this is clearly not an excuse to carry on regardless. We will need to learn to be tougher or give our children strong survival instincts rather than molly-coddle them.
I bet Mr Assange has escaped the communal funk.
Do we only wake up when there's a knock at the door?
M7,
Thank you for asking. Sadly at the moment I have no plans for a London talk. I will try to arrange other talks but it depends on hearing from enough people in an area or a group who are already there (Anti-cuts, Green Party Quakers or any other interested group).
Thanks for asking though.
Dear Golem,
You speak very well, no retakes in front of a live audience.
I know I wasn't your intended target for that speech but there was one thing that I found somewhat unpalateable…
On the one hand, you describe how these 'Traders' forums' helped you see the light with regard to the causes of the crisis and to the likely effect of actions taken. Denninger personally helped you out with corrections the 'Another Citi Bailout' blog and your blog on the environmental effects of Globalisation seemed to be inspired by his writing too. I could go on.
Then on the other hand you describe these people (3:18) as "Awful" and then make a fairly crass generalisation about the type of people they are. That wouldn't be so much of a problem except that you linked to the video of you making these comments on the site that they've just started to link to; much to your evident pride and to your benefit.
I can see that there is a problem with what PR people call 'Positioning', in presenting market players' ideas to a room full of Greens but there should be a better way, away that doesn't come across as so profoundly ungrateful.
Hope you take the criticism as it was intended, strictly constructive, and I look forward to seeing the rest of the clips.
Yours constructively, Unclear.
Unclear,
Perhaps you are right in that I could have been more diplomatic. Being ungrateful is ugly and unworthy.
I am certailny most grateful to the traders for their analysis and to people like Denninger for his unstinting efforts to put up a credible analysis. And I certainly said so in the acknowledgements in the book.
But I can't dissemble and pretend that I share very much of the general political outlook expressed in places like Ticker and Zerohedge. And I know Denninger and the folks at Zerohedge would have nothing very good to say about my personal political leadings.
They have a deep and oft expressed loathing for anyone and anything green or left. I don't take it personally nor does it put me off from learning from them the good things they have to say.
That they and I have so very little in common, so very few reasons to be well disposed to each other, it makes it all the more striking that we share a view of what has gone on in this debt debacle. And it was this confluence of otherwise ill disposed people that I was trying to make clear.
I'm afraid I do find many of the opinions expressed on the Ticker and Zerohedge to be quite awful. With few notable exceptions they regard all those on welfare as "leach fuckers" to use one of the common terms in use on the Ticker.
But that said, you are right. One genralization does not make another any better.
All I would say is that I would not very much tailor what I had to say no matter who I was talking to. One of the Quaker ideals I try to live up to is plain speaking.
But I stand corrected. Plain speaking should not act as a cover for rudeness or a lack of gratitude to those from whom I have accepted help in the past.
If it helps – you or them – I apologize for making sweeping generalizations and rude ones at that.
It doesn't help me; but does it help you?
My advice, plainly speaking… Criticise their politics not their character. By criticising their character you're running the risk of appearing to discredit their economic expertise. The story becomes confused.
Yours plainly, Unclear.
David, thanks for responding to my inquisition over any planned London talks. Maybe I'll catch a Canadian engagement soon! (Also apologies for my poor grammar above RE "you're" NOT "your" – can't stand making those mistakes).
A great video here:
http://www.youtube.com/user/SGTbull07#p/u/13/fOshw4kIGR4
A little over the top but still priceless…