The Worst Of The Financial Crisis Is Yet To Come

[Rakhmetov]

Firestorm's ahead, comerades.

"Greece's problems are indeed Germany's problems. Germany's problems are indeed the United States' problems. And the United States' problems are indeed the world's problems. Analyzing who did what in the last ten years is far less useful than discussing what, if anything, can be done in the next ten years. What is going on is a world-wide game of chicken. Everyone seems to be waiting for who will flinch first. Someone is going to make a mistake. And then we'll have what Barry Eichengreen has called "the mother of all financial crises." Even China will be affected by that one."

Dr. ImmanuelWallerstein

http://www.zcommunications.org/greek-mess-euromess-western-nations-mess-world-mess-by-immanuel-wallerstein

http://www.youtube.com/watch?v=wBMnDLQr7-M

http://en.wikipedia.org/wiki/Immanuel_Wallerstein

[RadioRaheem84]

Great economist. I think he wrote a piece for the Monthly Review. But this is right. All major signs point to a major bubble in the next five to ten years that will make this last crisis look like nothing.

[vyborg]

capitalism is prone to recurrent financial crisis and bubble. we experienced the biggest of all..so far...but before it, the crisis came every 4 or 5 years. it is likely the next one will be a lot closer and more severe

[Lyev]

Great economist. I think he wrote a piece for the Monthly Review. But this is right. All major signs point to a major bubble in the next five to ten years that will make this last crisis look like nothing.
Hence why revolutionary leftists need to step up their activity 10-fold to even get a word in edge-ways against capitalists, liberals, right-wingers, tea-baggers, fascists, the media, idiots and governments. I think a big theme of this crisis is that profit-makers, investors, capitalists and governments don't actually solve crisis; they just displace it. Capitalism itself isn't an ideology like Marxism where there's an absolute wealth of concise research and writing to constantly refer to. We're in a position now where every single world leader, for all their re-assuring words and supposed wealth of knowledge and qualifications, don't have a bloody clue what to do. They're only "solution" is severe austerity cuts, which really just exacerbates the crisis, because it decreases the standard of living (i.e. the amount of money people have) and therefore there's still no-one with sufficient enough cash to buy all the goods that China et al. are spewing out. Capitalists are generally very short-sighted when it comes to solving crisis; they only have an eye for short term fixes and, as always, an insatiable lust for profit. And when it comes down to it, capitalist governments are really just there to prop up the bourgeoisie when they get in a sticky situation.

[Omegared]

All economists that predicted the current crisis while the mainstream news sources were in denial are all predicting another crisis. I have started a few threads on the exact same topic to see if fellow comrades will be trying to aggressively seize the moment. For some reason it seems that too many leftists (or maybe just the ones i associate with) are comfortable passively debating theory in coffee shops instead of devising ways to become leaders in our respective communities and coming together to set up various programs and introducing revolutionary leftist ideas to those that need them the most.

Personally, my goal for last year was to link up with a revolutionary party and not just read about it. My next goal is to asses possibility for local (at least temporary) revolutionary peoples service programs.

[vyborg]

we must also add that the governments used 14 trillion dollars to save the banks (more than the US GDP), someone will have to pay this money back...the next decade will see the most savage cuts of living standars since WW2...and, we all hope, the biggest backlash of the workers as in Greece right now