Tuesday 30 August 2011

CAPITALISM IN CRISIS.


       
        Deleveraging, structural adjustments, severely adverse developments, how these words translate for you and I is, harsher conditions, slashing social spending, rising long term unemployment, as the billionaires, hedge funds and bond markets try to get out of the shit they dropped themselves in by their rampant greed. For those interested in information that hasn't been neutered via the mainstream media, you could do no better than visit, Capitalism in Crisis. The following is just a short extract.
      
       After four years---the financial crisis and the ensuing policy responses continue to cast long shadows. Economies and financial systems are still vulnerable to even modest shocks, and the likelihood of severely adverse developments has not decreased.
        In the advanced economies at the centre of the crisis, overall deleveraging and structural adjustment is still incomplete.
  - - - "We estimated in 2009 that the world had about $30 trillion in ghost assets. Almost half went up in smoke in six months between September 2008 and March 2009. For our team. It's now the other half's turn, the 15 trillion USD of ghost assets remaining, purely and simply vanishing between July 2011 and January 2012. “The insolvency of the global financial system, and of the Western financial system in the first place, returns again to the front of the stage after just over a year of political cosmetics aimed at burying this fundamental problem under truckloads of cash.”

       Do we need a system that throws the majority of the population into deprivation, and robs them of the future and all hope, so that the billionaires can try to recover their losses from their addiction to the gambling casino?

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