So perhaps in the final analysis, this is all for the good. Maybe now we’ll wake up to the reality of our lives, that lives that are spent working to do little more than consume is a fantasy. The real question is however, what are we going to do about it?
To expect Obama or even the entire US government to actually reverse the process set in motion by the over-accumulation of capital is akin to trying to stop a fully laden oil tanker by sticking your foot out.
The US, along with the UK via their military and economic control, especially over the financial and oil markets are directly responsible for the current crisis, a crisis compounded by the massive financial fraud perpetrated by the major banks and investment corporations, a fraud that ordinary working people are being forced to pay for.
In 1997 the currency and financial crises that swamped the export-driven NIEs of Asia and the Pacific soon revealed themselves to be just one face of that many faced coin of the capitalist realm, overproduction. The secret to money, after all, is contained within the secret of the commodity and not vice-versa.
Filed in Creative-i on Capitalism, Guest Writers
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Also tagged ANC, Asia, books, capitalism, cia, circulation, credit, development, EU, GE, inflation, MoD, oil, reproduction, right, shipping, un, usa, values, war, water
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“The current market jitters are centred on disturbances in the world’s credit markets. Worries about the viability of sub-prime mortgage lending have spread around the financial system, and the central banks have been forced to pump in billions of dollars to oil the wheels of lending.†— ‘Financial crises: Lessons from history’, Analysis By Steve [...]
Filed in Creative-i on Capitalism, From the Editor
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Also tagged ANC, banking, BBC, bush, capitalism, cia, crash, credit, credit crisis, crisis, debt, deregulation, economics, economy, federal reserve, food, GE, inflation, internet, left, MIT, oil, savings and loans, silverado, socialism, speculation, statistics, stock market, sub prime, sub-prime mortgage, uk, un, war
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