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Where is the economy going ? RT report

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Where is the economy going ? RT report
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PABUser avatarPosts: 382Joined: Fri Oct 09, 2009 10:34 pmLocation: UK Gender: Male

Post Where is the economy going ? RT report

A very interesting piece on the RT, "The Keiser Report".

The first 15 minutes essentially lays out Max Keisers analysis that despite the official parade that major economies are emerging from the global recession, is essentially a facade. He predicts that sooner or later the " plane will crash", and sums it up with increasing conflict regards the revelation of the international spying scandal and the prospect of world war (drama more than anything concrete).

What was of note (although nothing new), was his highlighting of increased labour productivity and capital wealth i.e. wages stagnating, despite increased productivity. And the mention of modern and future "productivity" is towards reduced wages (in real terms competition with china et al). Not to mention that Keynesian policies have failed in his analysis (that accumulating debt is okay because GDP will increase- also known as spending your way out of the recession)- which in the UK unfortunately is the main economic model for those against austerity.

Time will tell if hes blowing steam or hit at least some nails on the head.
"The economic anarchy of capitalist society as it exists today is, in my opinion, the real source of the evil...there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy." Albert Einstein
Sat Nov 09, 2013 1:46 am
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