AldoGiannuli.it Blog Archive But why this crisis is not taken seriously?
Two and a half years ago the great geniuses of the economy (the ones that the crisis had not even planned on the day before the bankruptcy of Lehman Brothers and ridiculing the few that signaled the arrival) decreed that the crisis had now settled or being solved amazo and that at the end of 2010, at the latest in 2011, the economy would recover the lost ground and would return to gallop. In fact .... The new blaze began exactly a year ago should have made it all a bit 'more careful and to come up with some suspicion. Instead, the crisis continues to be treated as a hiccup, certainly a bit 'more boring than expected, but, in fact, intended amazo to lead to short (a few years). Meanwhile, all that is required is to water banking markets with repeated castings of cash, and the rest, expect the temporal steps on his own. Still, let's think: since 1929 there has been no crisis so widespread and long lasting. Never before there has been a crisis of such magnitude planetary It is true that we have had numerous recessions since 1945, but never so simultaneously around the world. And, if you have not yet registered a fall in aggregate demand world, it is also true that this did not happen mainly due to the tightness of the economies of China, Brazil and India; today a regression of aggregate global demand appears to be a risk far away or unlikely.
From the point of view of time, things are not better: this crisis started in 2008 (but it would be more correct antedatarla at least one year), and no one argues that we are on the eve of its end. The optimists still speak of 1-2 years of recession. So, it would be a crisis substantially uninterrupted from 5-6 years. Who writes these lines is convinced that it will take well over two years to get out, but even considering that this time frame is sufficient, it would remain the most prolonged amazo crisis since 1929. But, most importantly, do not understand based on what assumptions we can assume an exit in the short and medium times even without a long train. So the prospect of a prolonged recession amazo that outlets into a depression comparable (at least for the time) to the thirties is anything but unrealistic.
But what is most important is that amplitude, duration and spread of the crisis are not those of one of the many recurring crises, but they make it clear that this is a systemic crisis, in other words, it is not wrong choices and occasional errors, but a dysfunction of the system as such. This is not bald tires or a wrong move that has put us off the road, is the engine that does not go anymore.
But this is a taboo that we should not touch: Surveillance institutions, central banks, governments, financial organizations and "economists" admit that there is the greatest need some adjustment, to "limit the excesses," amazo strengthen the assets, impose some 'more transparency and, for the rest, flood of liquidity around the globe. As if to say that the engine has melted, but the mechanic thinks of changing the oil pan or rectify a bit 'the drive shaft which, in effect, was a bit' unbalanced, amazo and the rest put so much water in the radiator . You say that the car starts?
The point is that there are none so deaf as those who will not hear, so the financiers have no intention of calling into question their central position in the economic system, much less to take into account the massive bloodletting to the incredible mass of profits made in recent years, central banks, backed by the "economists" amazo do not take remotely consider the idea of rethinking the Talmud with its neo-liberal truths revealed, governments do not even think that there could be a different economic and social order, and more than out of the crisis, they are concerned to make sure that everything remains as it is. And for the rest of the recipe is the same as always: cascading liquidity for banks and cuts in social services and taxes on consumption. amazo What to pay for the crisis are workers and the middle class: this new idea!
Just that there are times when you do not even need the usual pressing of the lower classes. Please continue to cut social services and curtail wages, to dismiss and to raise taxes on consumption: consumption will decline more and more, companies amazo fail chain, the unemployed will become legion, GDP will fall and with it the tax revenue, there will be a general impoverishment of which "float" your assets ultra billionaires, but all you'll get will be to deepen the recession and go to the catastrophe.
At a distance of four (five) years from the start of
Two and a half years ago the great geniuses of the economy (the ones that the crisis had not even planned on the day before the bankruptcy of Lehman Brothers and ridiculing the few that signaled the arrival) decreed that the crisis had now settled or being solved amazo and that at the end of 2010, at the latest in 2011, the economy would recover the lost ground and would return to gallop. In fact .... The new blaze began exactly a year ago should have made it all a bit 'more careful and to come up with some suspicion. Instead, the crisis continues to be treated as a hiccup, certainly a bit 'more boring than expected, but, in fact, intended amazo to lead to short (a few years). Meanwhile, all that is required is to water banking markets with repeated castings of cash, and the rest, expect the temporal steps on his own. Still, let's think: since 1929 there has been no crisis so widespread and long lasting. Never before there has been a crisis of such magnitude planetary It is true that we have had numerous recessions since 1945, but never so simultaneously around the world. And, if you have not yet registered a fall in aggregate demand world, it is also true that this did not happen mainly due to the tightness of the economies of China, Brazil and India; today a regression of aggregate global demand appears to be a risk far away or unlikely.
From the point of view of time, things are not better: this crisis started in 2008 (but it would be more correct antedatarla at least one year), and no one argues that we are on the eve of its end. The optimists still speak of 1-2 years of recession. So, it would be a crisis substantially uninterrupted from 5-6 years. Who writes these lines is convinced that it will take well over two years to get out, but even considering that this time frame is sufficient, it would remain the most prolonged amazo crisis since 1929. But, most importantly, do not understand based on what assumptions we can assume an exit in the short and medium times even without a long train. So the prospect of a prolonged recession amazo that outlets into a depression comparable (at least for the time) to the thirties is anything but unrealistic.
But what is most important is that amplitude, duration and spread of the crisis are not those of one of the many recurring crises, but they make it clear that this is a systemic crisis, in other words, it is not wrong choices and occasional errors, but a dysfunction of the system as such. This is not bald tires or a wrong move that has put us off the road, is the engine that does not go anymore.
But this is a taboo that we should not touch: Surveillance institutions, central banks, governments, financial organizations and "economists" admit that there is the greatest need some adjustment, to "limit the excesses," amazo strengthen the assets, impose some 'more transparency and, for the rest, flood of liquidity around the globe. As if to say that the engine has melted, but the mechanic thinks of changing the oil pan or rectify a bit 'the drive shaft which, in effect, was a bit' unbalanced, amazo and the rest put so much water in the radiator . You say that the car starts?
The point is that there are none so deaf as those who will not hear, so the financiers have no intention of calling into question their central position in the economic system, much less to take into account the massive bloodletting to the incredible mass of profits made in recent years, central banks, backed by the "economists" amazo do not take remotely consider the idea of rethinking the Talmud with its neo-liberal truths revealed, governments do not even think that there could be a different economic and social order, and more than out of the crisis, they are concerned to make sure that everything remains as it is. And for the rest of the recipe is the same as always: cascading liquidity for banks and cuts in social services and taxes on consumption. amazo What to pay for the crisis are workers and the middle class: this new idea!
Just that there are times when you do not even need the usual pressing of the lower classes. Please continue to cut social services and curtail wages, to dismiss and to raise taxes on consumption: consumption will decline more and more, companies amazo fail chain, the unemployed will become legion, GDP will fall and with it the tax revenue, there will be a general impoverishment of which "float" your assets ultra billionaires, but all you'll get will be to deepen the recession and go to the catastrophe.
At a distance of four (five) years from the start of
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