In the US, people have lived above their means for years and now must permanently lower their living standard. In America as in Europe, economists expect a tremendous rise in unemployment in the fall. This does not mean people will shop more.
We persuaded ourselves permanent economic growth was the answer to all questions. We should now engage in a growth debate about the nature of this growth, not whether we should renounce on economic growth. Increased GDP can mean destruction of foundations in long-term
The State Invests and Memorandum 2008 (tags)
When the state invests, it ensures that the economy will grow faster tomorrow than today: new streets, better schools and new eco-techniques. In a few years we will all earn more. Even German bank president Axel Weber urges a state economic program.
De-Acceleration or Globalization 2.0 (tags)
"The wondrous global division of labor came about in which threshold countries lend money to the US to buy Chinese or Indian products..Must cut-flowers from Africa be promoted in Europe?..With de-acceleration, globalization will catapult fewer jobs around the globe.
Questions to the Maestro Alan Greenspan (tags)
Listen to Thom Hartmann interview Alan Greenspan on Air America Monday Sept 24. Greenspan was responsible tor the credit problems that now shake the world finance markets. Did the maestro drastically lower interest rates to help the Bush administration?
When Americans Learn Fear (tags)
The German writer for DIE ZEIT describes anoher scenario for an oil crisis in America that would be similar to past experiences: a sudden price jump on the oil market could accelerate the loss of trust in the American economy.
Clash of Cultures: Wal-Mart in Flagstaff (tags)
"A scandal occurred at the flashpoint of the campaign. Wal-Mart placed an advertisement that showed the 1933 book burning at the Berlin opera plaza. Whoever prohibits Wal-Mart prohibits freedom of thought. Wal-Mart apologized for its bad taste.."