I'm writing this commentary before November 4 and the U.S.presidential election.But regardless of who wins the presidency,I'm already endorsing oystein Dahle for Secretary of the Treasury because he seems to be the only one who 'gets it'.Capitalism has already collapsed in the sense that government now owns much of the world's financial business(es),and we are cruising toward environmental tipping points that have striking parallels to the current financial crisis.Let's explore the similarities.rnThe financial bubble.Analysts say the financial crisis was caused,in part,by too many subprime home mortgage loans,which were not backed adequately by real assets.
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