Financial crisis? It’s a pyramid, stupid.: Has Cameron killed the City? However, sadly, it seems so British and so unsurprising. In the 1970′s the British heavy industries refused to adopt to a changing world: first signs of globalisation. They put a pressure on the British government to subsidise them with taxpayers money and keep them [...]
Spain: who is responsible for the property bubble? – Credit Writedowns As recession takes hold, European citizens are starting to ask questions about how they were led into this, the deepest downturn in three-quarters of a century. The leading Spanish daily El Pais published a very thoughtful article today asking how things had unravelled so [...]
The Great Depression of the 21st Century: Collapse of the Real Economy The November 15 G-20 Financial Summit in Washington upholds the Washington-Wall Street consensus. While formally presenting a project to restore financial stability, in practice, the hegemony of Wall Street remains unscathed. The tendency is towards a unipolar monetary system dominated by the United [...]
The Attack on Prosperity: How Speculators Are Causing the Cost of Living to Skyrocket – International – SPIEGEL ONLINE – News In late 2003, they invested only $13 billion (€8.4 billion) in the food commodities business. By March 2008, that number had jumped to $260 billion (€168 billion), an increase of 1,900 percent.
Solar Power From Africa: The Best Investment the EU Can Make | SolveClimate.com Its architects claim they can build a supergrid of concentrating solar thermal plants (CSP) that can meet most of Europe’s current electricity needs by using just 0.3 percent of the deserts of the Middle East and North Africa (MENA) – and at [...]
photo credit: Busko It is interesting to see how the social dynamics between individuals are mirrored exactly in the same way in a global and macro-economic scale. Whereas in the good times states cooperate with each other with more flexibility, when the situation worsens, not only each system actor shuts down to outside cooperation, but [...]