Debt is capitalism’s dirty little secret
By Ben Funnell, June 30 2009 19:14
Just why is there so much debt in the Anglo-Saxon world? Bankers and regulators know well that it is in nobody’s long-term interests to have allowed borrowing to escalate to a position where the US now owes far more, as a multiple of the [...]
The Recession. The free-market economists of yesteryear have been trying to convince everybody the worst of the crisis is over. They basically have only rising prices for oil futures to back their desperate optimism. Well, now oil futures have gone back below the current brent crude price of $50. So what now?
It’s clear that the [...]
THE GREAT RECESSION
(!new! check out this:
Capitalism is in crisis. Neoliberalism is dead. Neoconservatism is deader.
We are in the Great Recession, the biggest slump since the Great Depression. And 2009 will see many more us unemployed and our wages slashed.
America, Europe, China, Russia, all the regions of the world are reeling from the consequences of the [...]