petej + recession   738

An economic recovery based around high debt is really no recovery | Larry Elliott | Business | The Guardian
In truth, the idea that state profligacy caused the Great Recession has never been credible. What really happened was that the expansion of the global marketplace led to cheap goods flooding the west. Inflationary pressure abated and that persuaded central banks to cut interest rates. Financial deregulation meant the only remaining constraint on excessive borrowing – high interest rates – was removed – and so credit was cheap and readily available. The private sector loaded up on debt, which was fine so long as the assets on the other side of the balance sheet were going up in value. When the markets turned, things went pear-shaped very quickly.

Only at that point, did public sector debt become a problem because governments sought to ameliorate the impact of the recession by cutting taxes and increasing spending. The debts incurred by the private sector were, to an extent, nationalised.
economics  finance  debt  crisis  crash  recession  recovery  dctagged  dc:creator=ElliottLarry 
september 2018 by petej
The New World in Our Hearts – A Critical Engagement With Paul Mason’s PostCapitalism (Communism versus the Commanding Heights Part 2) | Self Certified
"But there is a shortcoming in Paul Mason’s analysis; The capitalist class will not just stand by and allow us to break it’s monopoly on intellectual property anymore than it will stand idly by as we reclaim buildings and public space. The new mode of production may grow within the old but it always requires force of some kind to cement it’s ascendency. The capitalist class thrived for a time under monarchies and coexisted with feudalism, but eventually it required revolutionary action when the old order of things held back it’s development. The wealthiest one percent and their subjects are engaging us in class war and if we don’t fight back, they will fence off our commons and make us pay to use it. The downfall of Napster, the constant attempts to shut down free television streaming sites and the rise of bill pay music and TV streaming services are illustrative."
economics  capitalism  recession  informationTechnology  crisis  Kondratiev  neoliberalism  financialisation  environment  climateChange  MasonPaul  post-capitalism  postCapitalism  state  Marx  Trotsky  LuxemburgRosa  class  communism 
march 2016 by petej
​The strange case of America’s ​disappearing middle class | Paul Mason | Opinion | The Guardian
"Trump’s aim is not just to amplify these insecurities, but to create a politics of spectacle and senselessness around them. Businesspeople in the US are quietly despairing not just about the overtness of the racism, but also about the underlying irrationality of the discourse."
USA  economics  politics  economy  recession  stagnation  middleClass  income  inequality  TrumpDonald  dctagged  dc:creator=MasonPaul 
december 2015 by petej
Richard Seymour · Bye Bye Labour · LRB 23 April 2015
"The Labour Party faces a dilemma in May. Defeat will be demoralising and will increase the possibility that the party will ultimately collapse. There is little evidence that any significant force, other than the Blairites, would be in a position to take advantage of Miliband’s loss, and certainly none that a Labour left with any influence would emerge from the ruins. Yet if it wins, Labour will be forced to implement an austerity agenda which, while not enough to satisfy Conservative voters, will turn its own remaining voters off in droves. That would be a defeat of a different order. For a vision of that future, one need only look across the Channel, at François Hollande sinking and sinking in the polls, and the Front National on the rise."
UK  politics  LabourParty  conservatism  austerity  authoritarianism  MilibandEd  recession  debt  crisis  postFordism  socialDemocracy  ge2015  generalElection  dctagged  dc:creator=SeymourRichard  LRB 
april 2015 by petej
« earlier      
per page:    204080120160

related tags

15-M  1930s  1970s  abundance  acampadasol  activism  administration  affordability  age  ageing  alienation  AlmodóvarPedro  AmericaFirst  AmericanDream  Andalucia  anger  animation  anti-cuts  antidepressants  anxiety  Apple  apprenticeships  ArabSpring  architecture  Argentina  Argos  Arizona  Article50  arts  as2011  as2012  as2013  as2014  Asda  Asia  aspiration  Athens  audio  austerity  Austria  authenticity  authoritarianism  automation  AutumnStatement  aviation  backstop  bailout  BallsEd  bankers  banking  BankOfEngland  banks  BannonStephen  BarberBrendan  Barclays  BarrosoJoseManuel  barter  Bath  BBC  BBCQT  BCC  BDO  BearStearns  benefits  BernankeBen  bibliography  BlairTony  BlanchardOlivier  BlanchflowerDanny  Blockbuster  Bluewater  BNP  BoehnerJohn  BofE  bonds  bonuses  book  books  borrowing  boycott35  brands  Brazil  Brexit  Bristol  BritishGas  Britishness  BrownGordon  bubble  budge  budget  budget2011  budget2013  budget2014  building  bullshitJobs  Bundesbank  business  businessModels  CableVince  California  CameronDavid  Canada  Cannes  Capita  capitalism  carbon  carbonEmissions  CarneyMark  CarphoneWarehouse  cars  cartoon  cash  casualisation  CBI  Centrica  charities  children  China  choice  ChoteRobert  CIPD  cities  civilDisobedience  class  CleggNick  climateChange  closure  CO2  coalition  coffee  collaboration  colonialism  Comet  commerce  commodities  communication  communism  community  compensation  competition  computing  conditions  confidence  conformity  consent  conservatism  construction  consumerism  consumers  contradictions  control  cooperation  corporations  CorporationTax  corruption  Costa  costOfLiving  CPI  crash  credit  creditCrunch  creditRating  CribbsCauseway  crime  crisis  culture  currency  cuts  DarlingAlistair  Davos  dc:contributor=BastaniAaron  dc:contributor=HarveyDavid  dc:contributor=KumarAshok  dc:contributor=MasonPaul  dc:contributor=PetersAaron  dc:contributor=RobertsMichael  dc:contributor=TettGillian  dc:creator=AndreouAlex  dc:creator=AshTimothyGarton  dc:creator=BastaniAaron  dc:creator=BaxterSteven  dc:creator=BrownGordon  dc:creator=ByrneDavid  dc:creator=CameronDavid  dc:creator=ChakraborttyAditya  dc:creator=CohenNick  dc:creator=ColeJuan  dc:creator=CoppolaFrances  dc:creator=DillowChris  dc:creator=ElliottLarry  dc:creator=FreedlandJonathan  dc:creator=GraeberDavid  dc:creator=HallRichard  dc:creator=HallStuart  dc:creator=HancoxDan  dc:creator=HariJohann  dc:creator=HarrisJohn  dc:creator=HarveyDavid  dc:creator=HeathAllister  dc:creator=HuttonWill  dc:creator=JohnsonAlan  dc:creator=JonesOwen  dc:creator=KaleckiMichael  dc:creator=KettleMartin  dc:creator=KrugmanPaul  dc:creator=LanchesterJohn  dc:creator=MasonPaul  dc:creator=MilibandEd  dc:creator=MilneSeumas  dc:creator=MonbiotGeorge  dc:creator=MooreSuzanne  dc:creator=MurphyRichard  dc:creator=NivenAlex  dc:creator=OrrDeborah  dc:creator=PestonRobert  dc:creator=PetersAaron  dc:creator=PettiforAnn  dc:creator=RobertsMichael  dc:creator=RoubiniNouriel  dc:creator=SeymourRichard  dc:creator=SorosGeorge  dc:creator=StiglitzJoseph  dc:creator=ToynbeePolly  dc:creator=WhiteMichael  dc:creator=WilliamsZoe  dctagged  debt  debtCeiling  decay  decentralisation  default  defects  deficit  deflation  deindustrialisation  Deloitte  demand  democracy  demonisation  demonstration  depression  deregulation  despair  Detroit  devaluation  diet  discipline  discrimination  discussion  diversity  documentary  doubleDip  DraghiMario  drama  drugs  DWP  dystopia  earnings  EBA  EC  ECB  economics  economy  ecoomics  ECRI  EDL  education  EEA  EFSF  Egypt  EHRC  elderly  election  electricity  ElPais  EMA  emergency  emigration  emissions  emotion  employability  employers  employment  energy  England  entrepreneurialism  entrepreneurs  environment  environmentalism  ethics  EU  Euro  Europe  EuropeanUnion  Eurozone  event  eviction  exchangeRates  exclusion  executives  exploitation  extremism  fairness  fake  families  farRight  fascism  faults  fear  FederalReserveBank  festivals  feudalism  Fidesz  film  finance  financialisation  financialRepression  fiscalCliff  fiscalCompact  Fitch  flexibility  Florida  food  foodBanks  football  forecasts  FoxNews  France  freedomOfMovement  freelancing  FTSE  fuel  fundamentalism  future  FuturePublishing  G8  G20  gas  Gazprom  GDP  ge2015  gender  generalElection  generalIntellect  generalStrike  geography  Germany  gigEconomy  globalisation  globalWarming  gold  GoldmanSachs  goldStandard  government  graduates  graphs  Greece  greed  greekrevolution  greenhouseGases  grexit  growth  Guardian  HammondPhilip  hardBrexit  HarveyDavid  hatred  health  healthcare  hegemony  HESA  HeseltineMichael  higherEducation  HighStreet  history  HMV  HollandeFrancois  homelessness  homeOwnership  hours  housing  humour  Hungary  ICM  ideology  IFS  illness  IlyinIvan  IMF  immigration  impact  imperialism  imports  income  independence  Independent  India  indignados  Indonesia  industry  inequality  INF  inflation  information  informationTechnology  infrastructure  innovation  insecurity  InstituteOfDirectors  interestRates  Internet  interview  intolerance  investment  IOD  IPO  Iran  Ireland  islamophobia  Italy  Japan  jiltedGeneration  jobcentres  jobs  JohnLewis  JohnsonBoris  journalism  JunckerJean-Claude  KaleckiMichael  KCaCO  KeepCalm  KerslakeBob  Keynes  Keynesianism  KingMervyn  knowledgeEconomy  KochCharles  KochDavid  Kondratiev  KrugmanPaul  labour  LabourParty  LagardeChristine  LapavitsasCostas  LawAndJusticeParty  leadership  lecture  legal  legitimacy  LehmanBrothers  lending  letter  LiberalDemocratParty  Libya  livingStandards  loans  loansharks  localGovernment  London  London2012  LongHuey  LRB  LTRPF  LuxemburgRosa  Maastricht  MacronEmmanuel  Madrid  magazines  magicalVoluntarism  malls  manufacturing  maps  Mar26  March26  Marinaleda  marketisation  markets  MarksAndSpencer  MarksSpencer  Marx  Marxism  MasonPaul  McConnellMitch  meaning  media  medical  medicines  mentalHealth  MerkelAngela  middleClass  MiddleEast  migrants  migration  MilburnAlan  MilibandEd  mistrust  MIT  mobility  money  monopolies  Moodys  morality  Morrisons  mortgages  MPC  Murdoch  MurdochRupert  music  mutualAid  nationalisation  nationalism  Nazism  NEET  neets  NEF  negotiations  neoliberalism  networks  Newcastle  NewcastleUponTyne  Newham  NewLabour  NewStatesman  NewYorkTimes  Next  NHS  NIESR  noDeal  North-East  North-SouthDivide  NorthernRock  nostalgia  Novara  nuclearPower  nutrition  NYT  ObamaBarack  OBR  Observer  occupation  Occupy  occupyWallStreet  Oddbins  OECD  oil  olympics  Olympics2012  ONS  optimism  OsborneGeorge  outsourcing  ownership  ows  Oxbridge  Panorama  PapandreouGeorge  pawnbrokers  pay  PCP  pensions  pessimism  photography  PizzaExpress  plumbing  PMI  Podemos  Poland  polarisation  police  policing  policy  PolicyExchange  politics  poll  polls  populism  Portugal  post-capitalism  postCapitalism  postFordism  pound  poverty  PP  precarity  prediction  predictions  prejudice  press  prices  PrinceCharles  privateSector  privatisation  production  productivity  profit  profits  ProgrExit  property  protectionism  protest  psychology  publicSector  publicServices  publicSpending  publishing  PuertaDelSol  punishment  PutinVladimir  QE  quality  quantitativeEasing  race  racism  RajoyMariano  RastaniAlessio  ratingAgencies  RBS  recession  recovery  RedCross  redistribution  redundancies  referendum  reform  refugees  regionalAssemblies  regions  regulation  relief  Remain  renewables  renting  rents  RenziMatteo  report  RepublicanParty  reputation  Resco  resentment  resistance  ResolutionFoundation  retail  review  revolution  riot  risk  RobinHoodTax  Rochdale  Romania  RPI  RSA  Russia  sales  SalviniMatteo  SanchezGordillo  sanctions  SarkozyNicolas  savings  scapegoating  scarcity  schools  Scotland  security  SedwillMark  self-employment  services  ShappsGrant  shares  shopping  shoppping  shops  sickness  singleMarket  skills  slavery  SnyderTimothy  socialClass  socialDemocracy  socialism  socialMedia  socialMobility  socialMovements  socialSecurity  society  SorosGeorge  SouthAfrica  sovereignty  space  Spain  spanishrevolution  speculation  speech  spending  spendingReview  sport  squatting  stagnation  StandardAndPoors  state  statistics  SteinbeckJohn  StiglitzJoseph  stimulus  stockmarket  stratification  Strauss-KahnDominique  stress  stressTest  strikes  students  stupidity  subprime  suicide  SummersLarry  supermarkets  survey  sustainability  Syntagma  Syria  Syriza  tapering  tariffs  tax  taxation  taxAvoidance  taxCredits  TeaParty  technology  technoUtopianism  Telegraph  Tesco  Thatcherism  theatre  TheCommons  TheEconomist  TheLeft  thinkTank  tolerance  ToryParty  trade  tradeUnions  trading  TrafalgarSquare  training  transfers  trends  tripleDip  troika  Trotsky  TrumpDonald  trust  TUC  Turkey  Twitter  UK  Uk  UKIP  Ukraine  ukriots  ukuncut  UN  uncertainty  underemployment  unemployment  universities  UniversityOfCambridge  UniversityOfOxford  urban  USA  utopianism  Valdeluz  Valencia  value  video  Vimeo  volatility  wages  Wal-Mart  war  wealth  welfare  WEO  wikipedia  wikipediaPage  WindsorCharles  wiring  Woolworths  work  workfare  workingClass  WorkProgramme  WorldEconomicForum  WorldWarI  writing  WTO  xenophobia  Yell  YoungDavid  youth  youtube  Zizek 

Copy this bookmark:



description:


tags: