Short YouTube monologue (Donald Burns) arguing that GDP obscures the real risk—debt service capacity. The speaker claims the debt burden vastly exceeds what the economy can service (gives illustrative percentages and multiples), and warns that institutions run models divorced from objective reality with no feedback or self-correction, comparing this attitude to Agent Smith/being trapped in the Matrix.
So when you look at things how much you can refer to GDP but that's not really the issue. What percentage of GDP can go to debt service? Maybe not even 10%. So we're already talking 12 times GDP but that's 120 times what is available for debt service. That's how out of control everything is. Because when you live in a world of models, yes here's the thing. When you don't admit that there is absolute, that there is objective truth then you no longer have any feedback mechanism to test if your assumptions are leading you farther away from reality. So what ends up happening is each year institutions, governments, corporations are invested in a model that is running away from reality and there's no feedback loop, there's no self correction mechanism. And when you live like Agent Smith, you don't care about what happens in the real world because you don't even admit it exists, right? You're trapped in the matrix.
If your restaurant only works because you work 80 hours a week, it doesn't work.
