Why Is The 2008 Crisis Taking So Long To Resolve?The following is Part 2 of the transcript of the interview of Dr Yılmaz Akyüz, Chief Economist of the South Centre, with The Real News Network (a daily internet-based video news service) on US & European crisis mismanagement and global imbalances.
Lire la suiteThe Global Economic Crisis, The Great Depression of the XXI Century.The following text is the Preface of The Global Economic Crisis. The Great Depression of the XXI Century, Michel Chossudovsky and Andrew Gavin Marshall (Editors), Montreal, Global Research, 2010, which is to be launched in late May.
Lire la suiteThe Bailouts RevisitedWho got bailed out and why? Is there any alternative to “Too Big to Fail”? If we want to help the people who are suffering in this crisis and recession, then we should make financial policies with them directly in mind. Just throwing money at the banks will not get the job done.
Lire la suiteInterview of John Bellamy Foster on The Great Financial Crisishe robbing of public funds to bail out private capital is now on a scale probably never before seen. A politicized, organized working class capable of understanding and reacting to that theft, and choosing thereby to restructure society, to meet real social, egalitarian needs is what is now to be hoped for.
Lire la suiteThe Deflating Economy There should be a modest uptick in GDP in either in the 4th quarter 2009 or the 1st quarter 2010. This will mark the end of the current 20 month-long recession, but not the end of the crisis. The blip in growth doesn’t mean that the troubles are over or that the economy is on the way to recovery. It simply means that Obama’s $787 billion fiscal stimulus is beginning to kick in, giving a boost to consumer spending and generating short-term economic activity. Regrettably, when the stimulus runs (...)
Lire la suiteUS bank bailout to cost $23.7 trillionThe federal government’s bailout of Wall Street may cost $23.7 trillion, according to a statement given to Congress Monday by the lead overseer of the Treasury’s bailout program, Neil Barofsky, special inspector-general for the Troubled Asset Relief Program (TARP).
Lire la suiteUS Congress divided on the need of a new stimulus packageA debt has started to develop in Washington on the and the viability or not of second federal stimulus package as, despite the massive deficits piling up in recent months, the economy is not reacting.
Lire la suiteRussia: Finance Minister states confidence in the US dollar. Russian Finance Minister Kudrin said over the weekend it was too early to think of a reserve- currency alternative to the dollar,
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