Tag: economic growth

Yes, comrades, we need to talk about crises again, the term recession simply does not explain what is really going on! Just in case you might not have noticed or perhaps the mainstream media where you live ignored it, the obvious has happened and the end of the so-called recession has disappeared into the fantasy novel. Once again there is a slowdown in growth and the financial markets are not particularly happy. This time, Germany and China are showing signs of slowdown. Globalisation has not ended the potential towards crises in the capitalist economic system; in fact, the greater interconnectedness of the world economy has exacerbated the situation and ensured that the contagion spreads.  

For those who believe the fantasies of neoliberal economics, the shock of these latest failures of neoliberalism must come as a surprise. But for those of us that have been warning of the stupidity of squeezing wages and destroying work conditions, rising inequality in income and wealth, the dangers of export-led growth when wage incomes are being squeezed meaning that unless governments become the sole purchasers of goods and services that are being produced (and they are not) that obviously there comes a point when working people cannot purchase goods and services as their incomes are too low, wiping out of savings  has happened and personal indebtedness leads to default and bankruptcy. Neither of these things helps to maintain capitalist growth, accumulation and profitability in the long run; forget that, it hasn’t even lasted in the short run.

I will be giving a run through on what is going on and why our lives feel as though we are living through the Shock Doctrine (which we are) then address the proposals of dealing with persistent unemployment under capitalism from the Left on which there is significant disagreement.

No money for infrastructure? Get ready to crumble! July 28: Ed Rendell, former governor of Pennsylvania, talks with TRMS guest host Melissa Harris-Perry about the litany of benefits that would come with more investment in US infrastructure and the certain disaster if Republicans succeed in slashing government spending.

Not only infrastructure but add in alternative energy and new needed grid needs for.  

Earlier today I posted up an article I found on one of my sites, this one related to the Green Economic growth going on mostly everywhere but here in the U.S., though here we are finally doing some things. I was going to leave it at that posting but low and behold I started streaming NPR and caught a related short interview with an author that wasn’t directly related to Green but was about what we once had as an economy here in the States, which gives me the title.  

As the old saying goes, “Read it and Weep!”

Crossposted at Daily Kos

    World leaders representing nearly two-thirds of world economic output massively watered-down their public commitment to lowering greenhouse gasses last night, in what may be a grim portent for next month’s climate change talks in Copenhagen.

timesonline.co.uk

Bold text added by the diarist

    If a picture is worth a thousand words, this on should suffice in explaining the urgency of our species phlight to act NOW, not later, and not pragmatically.

    It is both ironic and sad that as climate change reform is watered down, the sea levels will rise even more.

    More sobering reality below the fold.

Just caught this, a Proud Great Uncle of a Nephew to become the 44th President of the United States!

Jon Payne, Barack Obama’s great uncle, watched the election coverage with great anticipation.  He was particularly moved when he heard the acceptance speech.

I was born in ’48 and grew up in the time after WWII and the rapid growth of not only a Great Economic Expansion but the Envy of the World to the American Worker and our Products and Services. We had the power and wealth hungry who tried to suppress but we also had intelligent business minds and workers willing to fight that brought about growing wages, safety in the work place, respect for the worker, and so much more, which gave respect and expansion to not only the employer but the companies, The company owners, the executives, the worker, and for those public companies shareholders were all reaping the rewards of that wealth sharing, that’s what built the strong and ever expanding middle class and helped some break out of that and join the upper crust of the wealthy. It was the Only Successful way a true capitalist society that can achieve and expand further. Decent expanding wages for a workers hard work and company dedication gives them the ability to purchase goods and services which in turn gives growth and prosperity to other companies and workers.