[P2P-F] Fwd: "Architecture of post-World War II economic relations is visibly disintegrating.", post 2

Mon Sep 12 11:56:59 CEST 2011

---------- Forwarded message ----------
From: Dante-Gabryell Monson <dante.monson at gmail.com>
Date: Thu, Aug 18, 2011 at 12:10 AM
Subject: Re: "Architecture of post-World War II economic relations is
visibly disintegrating."
To: econowmix at googlegroups.com, sustainable_solidarity at yahoogroups.com,
hc_ecology at yahoogroups.com

Washington Post -
Geithner, Bernanke have little in arsenal to fight new crisis
Published: August 15
http://www.washingtonpost.com/business/economy/geithner-bernanke-have-little-in-arsenal-to-fight-new-crisis/2011/08/12/gIQAFuFvFJ_story.html

*
*

Financial Times -
Financial markets at their wits’ endAugust 12,

http://www.ft.com/cms/s/0/13a17336-c4dc-11e0-9c4d-00144feabdc0.html#axzz1VJ0hV0VY

Wall Street Journal -

Global Crisis of Confidence World Policy Makers' Inability to Agree on Fixes
Led Markets on Wild Ride

AUGUST 13, 2011

http://online.wsj.com/article/SB10001424053111903918104576504493072650756.html

On Wed, Aug 17, 2011 at 6:43 PM, Dante-Gabryell Monson <
dante.monson at gmail.com> wrote:

> http://www.wsws.org/articles/2011/aug2011/econ-a17.shtml
>
> By Barry Grey
> 17 August 2011
>
> Excerpts :
>
> The global economy is moving into a new stage of the slump that followed
> the Wall Street crash of September 2008, under conditions where* the
> dollar-anchored world currency system has been irreparably destabilized*,
> the common European currency is being undermined by intra-European
> imbalances and national antagonisms, and *the entire architecture of
> post-World War II economic relations is visibly disintegrating.*
>
> It is no longer possible to credibly maintain that the economic crisis that
> erupted nearly three years ago was merely a temporary downturn, followed by
> a genuine and sustainable recovery.* Policymakers are being forced to
> acknowledge that the massive bank bailouts and austerity programs have
> resolved none of the underlying problems and that the economic situation is
> deteriorating.*
>
> ///
>
> “Karl Marx had it right,” Roubini said. *“At some point capitalism can
> self-destroy itself. That’s because you cannot keep on shifting income from
> labor to capital without having excess capacity and a lack of aggregate
> demand.* We thought that markets work. They are not working.”
>
>
>

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