Posted on 09/22/2016 3:57:08 AM PDT by expat_panama
The third leg of the world's intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history.
It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal free-market orthodoxies promoted for almost forty years by the Bretton Woods institutions, the OECD, and the Davos fraternity.
"Alarm bells have been ringing...
...money was wasted, skewed towards "highly cyclical and rent-based sectors of limited strategic importance for catching up," it said.
Worse yet, these countries have imported the deformities of western finance before they are ready to cope with the consequences...
...The report puts the advocates of globalisation (as practiced) in a quandary. They - or we, perhaps I should say - typically argue that it has vastly raised the living standards of hundreds of millions of people across Asia...
...globalisation has not in fact worked for these countries, bar a few exceptions. One starts to suspect that it works for nobody except the owners of capital and their close allies.
Besides, I have a hunch that UNCTAD's moment may be coming. It was Britain's Margaret Thatcher who kicked off the neo-liberal age of tax cuts, privatisation, and unfettered supremacy of the markets.
With uncanny timing - fit from a Conservative Party that has outlived every other major party in the world from sheer instinct and fingerspitzengefühl - Theresa May may now start to close that era with her embrace of industrial strategy.
What is clear is that world will soon need a massive and coordinated spending push by governments to create demand and bring the broken global system back into equilibrium. UNCTAD is entirely right about that...
(Excerpt) Read more at telegraph.co.uk ...
Go to youtube and search the following:
Bill Bonner (the 2008 collapse never ended but the “big” phase is around the corner once they can no longer kick the can down the road).
Raise my debt limit (very entertaining)
Collapse of the american dream (gets you to “cartoon”)
That massive debt bubble. I think, if the globalists fail at the whole cultural/immigration mixing and NWO global communism experiment, they might try to punish us with a global economic meltdown.
OR
In their own demented, masters of the planet way, they probably think they’re doing us a favor by trying to manage us on their terms (NWO) and a global economic collapse is their last plan B.........or C
“We tried to be nice about it but they leave us no option. To the bunkers while we hit the self destruct button”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.