David Murrin – Dr. Doomsday?


July 13th, 2011 4:30 A.M. CT –

Another sleepless night… Late night or early morning (whichever you prefer) CNBC offers a run down of the global market place as the markets in China, India, and Europe begin trading for the day, but sometimes controversial yet thought provoking guests appear on the show.

Not to say I agree with David Murrin, but he does pose deep questions that require scrupulous investigation of our financial system to find the real answers. Complexity today in the financial system has caused drastic divergent thinking about the outcomes and unforeseen consequences of financial engineering. The crash of 2008 is evidence that structured products will not always be the answer to market making, especially as institutions seek to create investment products out of life-insurance policies…

In his book Rising Powers, Shrinking Planet, Michael T. Klare comments on the geopolitical risks associated with the rising demands both from China and domestically for foreign oil. CNOOC, in 2005, offered to purchase Unacol Corporation by offering $18.5 billion in cash for control of the company’s assets.  Also, recent headlines suggest a greater European dependence on China for assistance and weak demand for EFSF bonds. And The China Conundrum tells of the youth of the world and how countries are adjusting to economic conditions by capitalizing on new opportunities.

The first step to recovery – admit there is a problem. The future David Murrin foretells may seem outlandish, but after surface level investigation is it all that kooky?

 

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This entry was posted in Blogging, Cases (Real World), Society and tagged , . Bookmark the permalink.

4 Responses to David Murrin – Dr. Doomsday?

  1. Jordi says:

    This is more interesting thinking from you. Was this for fun or is it related to final paper?

    It rattled my worldview a little to hear China and India offer to loan money to Europe. And I agree that America has been an empire…

  2. baudolino says:

    Why are you surprised, Jordi? If US or Europe (or both) fail, who’s gonna buy Chinese products?

    • Jordi says:

      You had me fooled with your pseudonym… I’m emotionally surprised, not intellectually. I meant the idea of China and India loaning their former colonial overlords money to bail them out makes the transition from modernity to “the network society” very real.

      What does baudolino mean?

  3. baudolino says:

    I see. However, in this case “colonial” would be strictly UK, which is not in the euro zone, and so less likely to get the contagion.

    Baudolino is a character from the homonymous novel by Umberto Eco (my favorite author).

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