Capitalism Criticism 2.0 (tags)
"Capitalism contains crisis as rain clouds contain rain" (Jean Juares, 19th century socialist). Profits increase in the neoliberal model, not investment (Nicolas Krowall). The competitive pressure drives businessmen to reduce investments in labor and wages.
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.
The current crisis of the developed capitalist system is taking place when the empire is about to change leadership in the elections to be held in a few days; it was all that was left to see.
Free Fall on the Stock Exchanges (tags)
Since the beginning of January 2008, $800 billion in stock assets have gone up in smoke. Nearly every big bank had to admit billions of losses. The credit crisis continues. What began as a subprime crisis has infected all financial markets and the "real economy".