In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘Destruction of real economy’

Forget China. ‘Hard landing’ in US, Europe: strategist

Posted by seumasach on March 13, 2012

Developed markets are too dependent on consumption and credit, and may be running “the wrong model of growth,” said Gallo, who believes that China and India are on the right path even though they have a long way to catch up with the West.

“They have real income growth, we don’t,” Gallo said.

CNBC

13th March, 2012

Developed economies are still experiencing an economic “hard landing” after the credit crunch, despite data showing small increases in gross domestic product, and investors should worry more about the West than about China, which is managing its slowdown, a currency strategist told CNBC.com on Tuesday.

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Michael Hudson and John Perkins on Icelandic TV

Posted by seumasach on April 7, 2009

Please click on this link for these absolutely indispensable, masterly interviews:

Lara Hanna’s Blog

Posted in Revolution in Iceland | Tagged: , , , , , | 2 Comments »

The Upcoming Political Crisis in Washington

Posted by seumasach on March 10, 2009

David Gordian

Global Research

9th March, 2009

In recent days we have seen even mainstream Democratic figures as Joe Stiglitz and Paul Krugman sound the alarm on what seems to be uncertainty in the Obama administration. Stiglitz, Krugman et al. are following in their essential critique a path well worn over the past few weeks by a range of commentators to be found as much among the Austrians as those on the liberal-to-left part of the spectrum. The fundamental point is, of course, that it is now clear to all but the militantly unreflective that Obama can – perhaps – save the Real economy or – perhaps – save Finance (i.e. Bank bond- and shareholders), but certainly not both. The increasing, but still relatively gentle, criticism of Stiglitz, Krugman and their ilk is owing to the fact that it is becoming all too clear that Obama is still unwilling to engage Finance in what might turn out to be the greatest intramural fight capitalism has ever seen.

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Posted in Financial crisis | Tagged: , , , , , | 1 Comment »

General Motors: end of the road ?

Posted by smeddum on November 11, 2008

General Motors: end of the road?
Is it all over for America’s biggest car maker? As Barack Obama’s new administration looks into the deep hole of US car makers’ finances, Andrew English examines the available options

Andrew English

11 Nov 2008 Telegraph

“It’s a disgrace man, like some corporate train wreck. I feel ashamed.”
Early evening drinkers in the Pyramid Alehouse opposite the Seattle Mariners’ baseball stadium were in no mood to give the world’s biggest car maker an even break last night. And the next couple of weeks look to be make-or-break time for General Motors and the other “big three” US car makers, Ford and Chrysler, as Congressional Democrats seek to add car makers to the US Treasury’s $700 billion economic rescue package for financial institutions. This would give the car manufacturers access to short-term funds totalling around $25 billion. Read the rest of this entry »

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