debt-based capitalism

Australian private debt is proportionately higher than US debt. Financial sector debt is significant and Govt debt is relatively small. Why then is so-called excessive Goverment debt ALL we ever hear about from the media and the growls emanating from the political bear-pit? Article by Greg Wood.

The ESM is a permanent rescue facility slated to replace the temporary European Financial Stability Facility and European Financial Stabilization Mechanism as soon as Member States representing 90% of the capital commitments have ratified it, something that is expected to happen in July 2012. A December 2011 youtube video titled “The shocking truth of the pending EU collapse!”, originally posted in German, gives such a revealing look at the ESM that it is worth quoting here at length. It states:
[Article 30]: “Governors, alternate Governors, Directors, alternate Directors, the Managing Director and staff members shall be immune from legal process with respect to acts performed by them . . . and shall enjoy inviolability in respect of their official papers and documents.” First published by Global Research April 19, 2012.

Debt-based capitalism is caught in a vice of an irreconciliable contradiction. The exponential nature of compound interest and the growth of money faces the geologically imposed limits of dwindling reserves of non-renewable natural resources upon which the real economy depends. No fancy fiscal footwork can side-step this fatal collision. Soon the pretence that money is real and physics is man-made will come to an abrupt end.