Information Landmine

"The Americans keep telling us how successful their system is. Then they remind us not to stray too far from our hotel at night." - An un-named EU trade representative quoted during international trade talks in Denver, Colorado, 1997.

Wednesday, January 30, 2008

Welcome to the New Depression

There are eminently-sensible arguments in favour of zero economic growth, but the greatest benefits that such a condition may well foster would seem to be best-attained via a series of thoughtful and orderly structural changes to national and world economies.

Then there is the type of severely-curbed economic growth that a crisis created by a lethal combination of (1) decades of casino capitalism (fostered by radically-weakened financial controls) and (2) record levels of public and consumer debt appears to have created in our midst.

0.6% growth with a forecast for further growth to remain anaemic for the foreseeable future?

Millions of homes already repossessed with many more likely to follow?

Unemployment on the rise?

Forget about recession: welcome to the New Depression!

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