Thursday, 10 April 2014

Time For Another Recession

So how was the recession for you? If you were on of the unlucky ones who lost their jobs and home then better luck next time because as we are barely out of this one, the IMF are warning that another one is on its way.
That's the problem with Capitalism, it falls over time and time again and it is the little guy who gets hit but as the people who run these things rely on Capitalism to maintain their large houses and even bigger bank accounts, it isn't going anywhere soon so keep that envelope for 'Sell Your Gold' handy because they haven't had the decency to wait a few years between economic collapses this time.
Head of the International Monetary Fund, Christine Lagarde, has issued a warning to world leaders that a combination of risky investments in the US, difficulties in emerging economies, low inflation in the eurozone and low growth and declining wages are undermining the stability of the financial system.
Sounds like we are being buttered up for yet more austerity cuts to pay for yet another global economic crisis we never caused.
After decades of the Capitalism experiment there is precious little evidence of any 'trickle-down' anywhere but no shortage of the poorest handing money up to keep the faulty Capitalism system working at least long enough for one more hurrah so they can steal what little money remains with the poor.
Experts have put the figure hidden away in secretive offshore account by the super-rich at £21 trillion but the Governments continue to close a few libraries and cut disability benefits instead thinking that'll solve the problem instead of actually doing something about tax evasion.  
Tent shops around the St. Pauls area will be the only ones making any profit this summer.


Samuel Guevara said...

The IMF is characterized by its complete ineptitude in their forecasts, but sadly I think this time IMF is listening to the non Friedman's followers economists (there are a few) and so hitting on something at last.

Anyway, it's difficult to understand why people continue relying in an economic system that has shown to fail spectacularly to reduce poverty and unenployment, even to hold a minimum stability. How many centuries more should we wait, hoping that capitalism will start working some day, and we'll reach the promised best of all possible worlds?

Anonymous said...

Yes Lucy that is a problem with capitalism. What are the advantages of capitalism?