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!
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!
Labels: failure of capitalism, US Economy
posted by Steve | 4:09 PM
0 Comments:
Post a Comment
<< Home