Your browser does not support the HTML5 canvas tag.
Εγχειρίδιο χειρισμού κρίσεων λόγω πολιτικών ΔΝΤ από τη CIA! / Already confirmed: Civil liberties under attack! / Greece's creditors gone completely insane! / How the global financial mafia sucked Greece's blood / ECB's economic hitmen / Η Μέρκελ επιβεβαιώνει τα σχέδια των γραφειοφασιστών! /Greece: the low-noise collapse of an entire country/ How the neoliberal establishment tricked the masses again, this time in France / Ενώ η Γερμανία προετοιμάζεται για τα χειρότερα, η Ελλάδα επιμένει στο ευρώ! / Ένας παγκόσμιος "proxy" πόλεμος κατά της ελευθερίας έχει ξεκινήσει! / McCarthyism 2.0 against the independent information / Ο επικεφαλής του "σκιώδους συμβουλίου" της ΕΚΤ επιβεβαιώνει ότι η ευρωζώνη είναι μια χρηματοπιστωτική δικτατορία! / It has started: A global proxy war against freedom! / Βαρουφάκης: Το ΤΧΣ δεν ελέγχεται από το δημόσιο! / Δημοψήφισμα για Grexit: η τελευταία ευκαιρία να σωθεί η Ελλάδα και η τιμή της Αριστεράς / Populism as the new cliche of the elites to stigmatize anyone not aligned with the establishment / Δεν γίνεται έτσι "σύντροφοι" ... / Panama Papers: When mainstream information wears the anti-establishment mask / The Secret Bank Bailout / The head of the ECB “shadow council” confirms that eurozone is a financial dictatorship! / A documentary by Paul Mason about the financial coup in Greece / The ruthless neo-colonialists of 21st century / First cracks to the establishment by the American people / Clinton emails - The race of the Western neo-colonialist vultures over the Libyan corpse / Επιχείρηση Panama Papers: Το κατεστημένο θέλει το μονοπώλιο και στις διαρροές; / Operation "looting of Greece" reaches final stage / Varoufakis describes how Merkel sacrificed Greece to save the Franco-German banks / France officialy enters the neo-Feudal era! / The US establishment just gave its greatest performance so far ... / A significant revelation by WikiLeaks that the media almost ignored / It's official: the US is funding Middle-East jihadists! / Οι αδίστακτοι νεο-αποικιοκράτες του 21ου αιώνα / How to handle political unrest caused by IMF policies! / Πώς το νεοφιλελεύθερο κατεστημένο ξεγέλασε τις μάζες, αυτή τη φορά στη Γαλλία / The establishment attacks Jeremy Corbyn in full force - imagine what would happen if he was truly radical

13 July, 2017

Very unlikely to avoid another financial crisis during the next one or two years

'I see an American economy working its way into that kind of a dead end by its own mechanisms, and because it can't face that the system doesn't work, it has to keep going in a kind of zombie way towards its own end.'


Richard Wolff briefly explains the dead end in which the American economy has been trapped, and why it is unlikely to avoid another financial crisis soon:

If you try now to jack-up the interest rates in order to prepare for the next recession, you are admitting - which you should be doing and should be talking to the American people, that the next recession is something that leading policy makers know is on the horizon. It's not whether we are going to have one, it's only a question of when.

Over the last 200 years, capitalism, wherever it existed, has had economic downturns every four to seven years. Well, do the math: the last one was in 2008-9. We're due for one and it will be very unlikely that we don't have one in the next twelve, eighteen, twenty-four months.

Putting aside what that would do to Trump presidency, for the Federal Reserve, they can't lower the interest rates unless they first bring them up. But by bringing them up, they make houses more expensive, cars more expensive, all of us will be paying higher monthly payments on our credit cards, and that will constrict the economy, so they don't know which way to turn.

This is a sign of an economic system that isn't working very well because it literally does not give you an idea of which way to turn, if you want to avoid a catastrophe.


I see an American economy working its way into that kind of a dead end by its own mechanisms, and because it can't face that the system doesn't work, it has to keep going in a kind of zombie way towards its own end.

No comments:

Post a Comment