Crash Course: Chapter 12 – Debt by Chris Martenson

August 24, 2009 · By admin

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Chapter 12 (Debt): Dr. Martenson explains how, since debt is a claim on future money, it is therefore a claim on future human labor. To put it simply, debt is future consumption taken today. Key Concept 7 is introduced, that “ever-growing debts implicitly assume that the future is going to be larger than the present.” Dr. Martenson challenges this assumption, and what it means for us if that condition of growth is not met. www.chrismartenson.com

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25 Responses

enderwiggin42

March 16th, 2009 at 10:42 pm
1

This part is scary, running up debt is enslaving our children :O
pjblabla

April 14th, 2009 at 9:36 am
2

The crash course is simply a brilliant and so far the best summary I have seen of our recent economic past, present and … contemplation about future

enlightening!
Acrobat747

April 14th, 2009 at 2:02 pm
3

Check out the y axis. The scale is increasing, making the debt look higher and creating an impression that things are worse than they really are.

Alot of what this mans says is correct, but he is also a bit of a con man also.
ChrisMartensondotcom

April 14th, 2009 at 4:06 pm
4

Which graph are you referring to? The scale does not change on the main debt graph (around 7:30) — it increases by 20 unit intervals. The baseline is not zero for this graph, but that does not affect the graph’s shape.
Acrobat747

April 14th, 2009 at 5:43 pm
5

I apologise, I am very much mistaken.
I got mixed up because the baseline did not start at zero, and fully agree that this does not affect the graphs shape.

However, I notice that the graph jumps from 140 to 180 then 180 to 200, doubling the increase. I presume this is a mistake?
FranceParisian

April 14th, 2009 at 5:59 pm
6

Please check this comment below by Chromatype. I find this very disturbing and I tried to reply but each time my reply becomes a separate comment. Address this!
“I think all of you need to realize something. Chris is selling month subscriptions for $30.00. If he scares 500,000 people into wanting to “support his cause”…he will generate 15 million dollars for himself.

That is way more that any one needs to take care of website server costs. This guy is out to make a LOT OF MONEY REAL FAST.”
nobusio

April 16th, 2009 at 1:17 pm
7

Fantastic videos,but in the debt chapter you say that ,
there is two possible scenario of how the story ends:
-Either paying back debt thru inflation
or eliminate debt thru bankrupty and defaults (deflation)

what about a third possiblity which would be a combination of both .Therefore an equilibrium between inflation and deflation
still hurting the middle class . it’s all wrongflation anyway
TimTrimT

April 18th, 2009 at 5:11 am
8

Interesting, I didn’t realize he was making money in some way off this.

Okay, I doubt I’d give anyone money for this. But I would offer great appreciation – this (free) video series is a pretty cool contribution to the public.

So while making money off of fear is annoying, it doesn’t diminish the factual value of what he is illustrating. Shoot holes in the information he presents if you can, but I’ve been studying this stuff for years and he’s doing a pretty fair representation of reality IMHO
SATANSbankers

April 18th, 2009 at 8:16 am
9

Inflation, then we Pay off our Debt to the Chinese, with Inflated Dollars.
ClassicalRay

May 3rd, 2009 at 10:40 am
10

WAKE UP AMERICA!!
VinceP1974

May 5th, 2009 at 3:59 am
11

111th CONGRESS
H. J. RES. 45

Resolved by the Senate and House of Representatives of the United States of
America in Congress assembled, That subsection (b) of section 3101 of title
31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof

$13,029,000,000,000
VinceP1974

May 5th, 2009 at 4:04 am
12

I have been telling people that in the future, things like abortion and birth control might be restricted on national security grounds.
nageroc

May 17th, 2009 at 11:05 pm
13

It started with Reagan.
mackp0587

May 20th, 2009 at 2:01 pm
14

America is gonna be destroyed.
novice8814

May 24th, 2009 at 5:43 pm
15

We borrow from Chinese. Chinese take our land in payment. Send their surplus workers to America. Send us to liquidation camps. Problem solved.
enicao

June 1st, 2009 at 1:48 pm
16

So if I understand well, the stimulus package to get the US out of the crisis, will only make things far worse in the future by increasing the level of debt by a few trillions of $.
andretheking86

June 13th, 2009 at 2:42 pm
17

reagan made it worse … but it started in 1913
golfprobro4eagles

June 28th, 2009 at 12:35 am
18

Reagan did not make it worse moron. If you take a closer look at the graff you will see that he made it posible for Clinton to pay down the dept. What made it worse is your left brain idiot.
apogist

July 8th, 2009 at 9:05 pm
19

question, is the us the only country which it’s government can “print and pay” ?
managarm1349

July 11th, 2009 at 4:46 am
20

no all central banks do that…if it was only the us that´d be great (for the rest of the world at least)
bergweg

July 15th, 2009 at 2:43 pm
21

Is it not ironic that we (labouring folks) create all the funds with out signatures on the promises to pay which they (banksters) then “lend” us back and collect interest and most of time the collateral, they bring nothing to the table and leave with everything. Read the book by Mary-Elizabeth: Croft “How i clobbered every bureaucratic cash-confiscatory agency known to man”
vtwookie

July 24th, 2009 at 4:33 pm
22

There is something deeply humorous about someone who can’t spell “graph” or “debt” calling someone else a moron or idiot…
dcmantommy

August 2nd, 2009 at 6:44 pm
23

Overall great work again Chris, thank you! Watch it on definitions of ‘productive debt’. If it is one of the droves of students who blow thousands of dollars on higher education for a career that outputs very little value, or rhetorical value such as sociology, where there is very little productive return for other humans – it is a net loss for everyone. A union factory worker would earn and produce more lifetime value than a student who blew $100k getting a masters in sociology.
jimmayl1

August 6th, 2009 at 3:29 am
24

???
profit!
sysopkc

August 9th, 2009 at 7:29 pm
25

hahahaa inflation OF COURSE. Its a slam dunk