Double Dip my recession
Yeah, looks like capitalism needs a bit of a lie down and a cup of tea...
No defence left against double-dip recession, says Nouriel Roubini
The United States, Japan and large parts of Europe have exhausted their policy arsenal, leaving them defenceless against a double-dip recession as recovery slows to ‘stall speed’.
Rosenberg: Here Are 13 Signs That We're Actually In A Depression Right Now
David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.
EU austerity policies risk civil war in Greece, warns top German economist Dr Sinn
Greece’s austerity measures cannot prevent default and will lead to a breakdown of the political order if continued for long, a leading German economist has warned.
and the impact of greedy corporate bankers screwing the global economy in the hyper unregulated worlds of the 24/7 free market has an impact even here in the Shire...
House sales stay in the dumps during August
Latest house sales numbers released this morning show sales kept falling in August, with the monthly housing price index rising 0.3 per cent.
Core retail sales dip in July
Seasonally adjusted core retail sales - which exclude the four vehicle-related industries - edged down 0.1 per cent in July, Statistics New Zealand (SNZ) says.
...I find it a great irony that we are told by a Merchant Banker PM that solo mothers, the ill, the crippled and the mentally unwell have to do with less while he hands himself a massive weekly tax cut because of greedy merchant bankers in America.
It wasn't until 1934 that the full economic impact of the 1929 stock market crash was felt, our crash was in 2008. What The Great recession and the Great depression have in common is that we are seeing a crises of capitalism. In the 1970's the real economy and the financial economy were valued pretty much the same, but after 4 decades of Milton Friedman neoliberal free market ideology, the real economy is valued at $8 Trillion, the financial economy is valued at $330 Trillion - that is a bubble that the sheer dynamics of Adam Smith capitalism dictate must go pop/
And it has.
Pretending that prosperity is just around the corner is delusional, we are in for a sharp shock to remind us that a consumer culture of SUV's, Plasma TV's and cosmetic surgery propped up by credit from over valued housing was never sustainable.