fix articles 42997, by tomasz konicz
Financial Market Inflammation (tags)
Bubble formation covered up a period of long-lasting stagnation... Former US Treasury secretary Larry Summers even spoke of stagnation as a "new normality"... The crisis consequences are shifted to other subjects. Unemployment and indebtedness are exported.
Capitalism as a Secularized Religion (tags)
It is never too early or too late to challenge the dominant narrative. Capitalism is a fetish social formation, a demolishing of being not a reform of being. Capitalism may be the first case of an indebted cult, not an atoning cult, possibly the most bloodthirsty cult of humanity's history.
Tea Party: Extremism of the Middle (tags)
The Tea Party wants to return to an idyllic past that never really happened. The Tea Party wants to stop the accelerating descent of the white middle class by driving ideological ideas to the extreme. The right-wing hardliners believe capitalism could be reanimated if the state were shattered.
Cloud-sourcing and Cloud-working: Brave New World of Work (tags)
"Nothing is more absurd than to try to enforce capitalist property relations within the expanse of the World Wide Web.. In the ideal case, the competing persons in the asocial networks should become part of a `cloud' of living workers.."
The Extremist Society (tags)
"The barbaric core of capitalist socialization is on full display in the present system crisis. The propagandists of totalitarian economism come in the mask of democrats. Economic-profitability thinking is imposed on society. Our society has long been viewed as a business."
Democracy in Crisis: The Terror of the Economy is a Danger to Democracy (tags)
There is a powerful crisis dynamic that is stronger than the will of the sovereign and its democratic institutions. When capital relations fall into crisis, everything can be instrumentalized: the basic law, democracy, human rights and human life. Economic pressure creates extremism of middle.
The Systemic Causes of the Crisis (tags)
The crisis is 30 years old, not 4 years old. The causes of the crisis can be found in the real goods-producing economy, not in the financial markets. The wildly proliferating financial markets did not drag the industry into crisis but kept alive the industry through credit-financed demand.
The Crisis Explained (tags)
So much crisis was never analyzed with a crisis-conditioned satisfaction guarantee! Instead of seeking culprits, we must seek the systemic causes of the indebtedness dynamic. These gigantic debt mountains were necessary to keep capitalism functioning. Fewer and fewer workers can producer more and more goods in an ever-shorter time.
The Crisis, Trust and Homeowners (tags)
Capitalism cannot function any more without credit-financed debt on account of its increasing productivity. The recession will come because the indebtedness-dynamic can hardly be maintained with which the capitalist zombie-economy is kept alive in its pseudo-life.
Politics in the Crisis Trap (tags)
A discontinuance of debt-financed economic programs leads to an economic slack period resulting in stagnation and recession. Crisis policy finds itself in a philosophical paradox. The political class can only choose between more indebtedness up to state bankruptcy (with hyper-inflation) or harsh austerity programs.
From the Debt Showdown into Recession (tags)
The scenario of an economic double-dip is very likely without additional economic measures. The budget cuts may bring about a recession. The republicans in Congress threaten to concoct an economic crisis if they are not allowed to cut spending. Our greatest problem is low spending.
The U.S. is More Greek than Greece (tags)
Deficit economies were organized mainly by finance capital. The expansion of this credit-financed mass demand went along with the expansion of the financial sector. Trillions of dollars and Euros were pumped in the stabilization of financial markets.
The End of the "Golden Age" of Capitalism and the Rise of Neoliberalism (tags)
"The central point is that the financial sphere has the potential of developing into an autonomous subsystem of the whole economy with an enormous capacity of self-expansion..Like cancer, it has no internal control mechanism. It can only be brought under control by external interventions"
Clouds of Chimerica (tags)
Dependence paralyzes superpowers. Washington urges Peking to upgrade its currency which China's economy cannot handle. China-bashing is an absolute necessity in the upcoming election campaigns.
Culture of Profit (tags)
The 2010 Worldwatch Report was compiled by 60 scholars. "To avoid collapse, nothing less is urged than a revolution of the dominant cultural model, the replacement of our consumer culture with a model of sustainable prosperity."
From Real Estate Speculation to Collapse of Global Deficit Economy (tags)
Joy to the world, the world of fallen idols and bubble transfer. The truth will set us free but the truth is a process, not a cudgel or stimulus. After the dot-com bubble, trillions were "invested" in real estate speculation. The crisis of the work society is the background for low interests.
Bush's Watergate (tags)
The publication of the new NIE represented a Declaration of Independence of professional secret service analysist who were made absolute fools by the neoconservatives in the past decades. Journalist Saul Landau described the new NIE as Bush's Watergate.