We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Monday, September 24, 2018

Ten years on, the crisis of global capitalism never really ended

Click here to access article by Jerome Roos from Roar.

Although 700 billion dollar bailout was necessary by our treasury in the immediate crisis, in the long term it hardly made a dent in this "recovery". Forbes magazine puts the final bill at $16.8 trillion. Because our masters always lie to cover up their crimes, who knows how much they have bilked us?

I especially like Roos's explanation about how the ruling class coped with the financial meltdown of 2008 by converting the enormous debts the accumulated into sovereign debt which the taxpayers of the Empire's countries are burdened with. "Quantitative easing" was also necessary by the privately owned central banks to delay the crisis which still threatens to unleash its effects.
... as the social and political consequences of the crisis began to make themselves felt, and the postwar international order seemed to tremble on its foundations, the world’s leading central banks – adamant to save the skin of private financiers and avoid a repeat of the 1930s – responded with an unprecedented monetary experiment. Not only did they drop interest rates to historic lows, but they also embarked on an aggressive program of “quantitative easing” (QE) that would see the four biggest central banks pump the equivalent of $15 trillion in new money into the global financial system.

Instead of boosting productive activity, however, it soon became clear that this excess liquidity had unleashed a fresh wave of speculative investment.