| inbluevt | Date: Tuesday, 2013/07/02, 7:28 PM | Message # 1 | DMCA |
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The global financial crisis that erupted in the United States in 2007-08 has already gone down in history as the most destructive capitalist crisis since the Great Depression - and it is far
from over. Indeed, while the US economy has bounced back since the 2009
recession that ensued, albeit with less than desirable GDP growth
trends and thanks mainly to three rounds of quantitative easing by the
Fed, serious problems remain: The unemployment rate hovers at socially
unacceptable levels, income and wages remain stagnant for the large
majority of the working population, and poverty shows no signs of
abating. Furthermore, the "masters of the universe" have returned to
their old ways of doing things, as serious efforts to reform the
financial system have been effectively blocked by Wall Street lobbyists
and the financial industry and the ostentatious behavior of deficit
hawks in Washington, whose views and positions reflect those of the most
wealthy in American society. They have all but ensured that the
formulation of a sustainable economic strategy for addressing the above
problems and the potential threats to America's economic future stemming
from various exogenous risks and challenges remains as unattainable as
time travel.
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Message edited by inbluevt - Tuesday, 2013/07/02, 7:43 PM |
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