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Insightful discussion. what accounts for lack of interest from African countries and other LDCs in the e-commerce JSI?

"Promosm"

climate change is a hoax

So sensible, so important, so little listened to.

very nice video !

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confirmed my take on this. so frustrating

Less than 8k views....general population is in decadence and are indeed an easy prey

White made a reference at 51:30 to the idea that when people are shocked by things they did not understand, they do not rethink but tend to only further entrench themselves in their belief systems. I believe he was referencing Daniel Kahneman, who covered this and related cognitive research on decision making in his book 'Thinking, Fast and Slow" (2011)

In his description of the Japanese recession Turner does not mention the effect of the implementation of the first Basel Capital Accord. In a study done by Professor David Llewellyn it was shown that the capital adequacy ratios of Japanese banks were as much as half those of British banks. To comply with the Basel Accord Japanese banks had to either raise masses of new capital or cut back on lending. They did the latter and asset values collapsed. Moreover Japanese banks had tried to be too clever. They had invested their capital bases in the equity shares of the companies they lent to and when the fall in asset values caused the Nikkei to fall 75 per cent, their capital bases fell similarly and their capital adequacy ratios collapsed. There is another explanation, that of Richard Werner in his book, 'The Princes of the Yen'. Richard's explanation and mine can live together: both may be true. Of course the debt problem was high-lighted long, long ago by Professor Michael Hudson. He has recently shown me his latest draft paper which demonstrates in detail the rise in debt.

Adair Turner is brilliant, and it is wonderful to see this kind of insight coming from someone who was a banking insider. I can't imagine Alan Greenspan demonstrating this level of understanding or introspection - he still can't believe we had a crash at all and no doubt thinks that aliens must have done it to us.

A gang of criminal bankers refuses to take the losses.

property values don't rise in the "big cities" because they are "successful" cities with the "high skilled" workers. They rise because the big cities, contain the companies, and by it's secondary effect, the people with access to front line Central Bank Credit Counterfeiting operations. THAT is the only thing that made your home in Central London go up 7x in 20+ years.

Lord Turner should explain how much does his Lord Turner Report reflects what he is now arguing? www.fsa.gov.uk/pubs/other/turner_review.pdf

“By 2007 banks in most countries had turned primarily into [SAFE] real estate [and to sovereign] lenders. The intermediation of household savings for [RISKY] productive investments in the business sector constitutes only a minor share of business banking today." The result of risk weighted capital requirements for banks. teawithft.blogspot.com/2010/12/regulators-are-quite-busy-fooling.html

Any intelligent person knows what's going on. Debt is like musical chairs - it's all fun and games until the music stops and then someone gets screwed. It's usually the populace who have been fed a bunch of trinkets while the elites enjoy caviar and champagne. In the end the average person finds out they've been paying the bill all along - and all they get is a T-shirt that says "I produced for the Rich and Famous, and all I got was this shitty T-shirt."

I'd agree with inequality and real estate but I'm not sure we can say trade deficits are a driver of debt: they're a symptom. Uses of debt: investment, consumption, and a competition for assets that already exist, aka speculation. Excellent suggestion to increase the risk weight for prime mortgages to consider the overall social cost!

A very fun talk, I wish us all the best

There were not many people in the audience.....

United States net savings / household income 1955: 14.6% 1965: 16.6% 1975: 8.1% 1985: 7.0% 1995: 7.3% 2005: 3.4% 2017: 2.3%

The meme ´´The voters get the government they deserve´´is just unsupportable , Democracy is a competing elites model, the whole problem rests with Mis-governance and Collusion at the executive level in both the Banking Cartel / central bank level and the Ruling Class level. Blaming voters is really just ridiculous. Its a variation on blaming the victims for their suffering. Bankers simply do not have skin in the game the moral hazard is absent and this asymmetric distribution of Risk leads to those at the closest orbit of first use of minted money ( figuratively speaking) looting the people further down the food chain ( Its a debt deflation and thats what happens ( Fischer Chicago plan revisited, Steve Keen et-al Minsky fior details.). As usual the elements are all there the emphasis on the relative importance of the various actors are skewed ( turkeys don't vote for Christmas, Must be in Wealth of Nations somewhere). A good talk and some important issues raised but one Can't help but feel that this is a apologia for a dinosaur institution, Banking Is entering obsolescence as is Government the Block Chain can do a better job dis-intermediating and facilitating direct democracy and direct exchange in social and economic relations.

After more than a year 1293 views, 14 thumbs and 0 comments on this excellent lecture. That's about average for economy lectures, watch ?v=dZi_WsCzmrE ^^ Columbia Business School "Predicting the Future of the World Economy". Only some of the conspiracy type lectures get enormous response, like 391,365 views, 1291 thumbs, 1,328 comments, watch ?v=u3oONvY1Bgg ^^ Christopher Greene of AMTV "China Hoarding Gold Before U.S. Dollar Collapse".