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eric pebble

Boom And Bust Capitalism Won't Be Fixed

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Boom and bust capitalism won't be fixed

Finance ministers are now simply papering over cracks having squandered the opportunity to make real changes to the way the world economy works, writes Edmund Conway.

There is a hideous hissing noise escaping from the world economy, the piercing sound of deflating ambitions. Any hopes that, in this crisis, we would find an opportunity to redesign our system of capitalism and finance are all but forlorn. Any prospect that the leading nations would overhaul either the banking system or the wider framework that ties our economies together, and so prevent another crisis, has pretty much disappeared.

Good article - all here - http://www.telegraph.co.uk/finance/comment...t-be-fixed.html

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Guest Steve Cook
Boom and bust capitalism won't be fixed

Finance ministers are now simply papering over cracks having squandered the opportunity to make real changes to the way the world economy works, writes Edmund Conway.

There is a hideous hissing noise escaping from the world economy, the piercing sound of deflating ambitions. Any hopes that, in this crisis, we would find an opportunity to redesign our system of capitalism and finance are all but forlorn. Any prospect that the leading nations would overhaul either the banking system or the wider framework that ties our economies together, and so prevent another crisis, has pretty much disappeared.

Good article - all here - http://www.telegraph.co.uk/finance/comment...t-be-fixed.html

The thing is, Eric, there is only one kind of capitalism

boom and bust

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Boom and bust is inherent in Capitalism.

It cannot be avoided but can be profited from if you play it right.

Brown, Blair, Bush, Greenspan etc all profited from it.

The capitalists all profited from it.

They are the winners.

The losers are the millions of working people throughout the world.

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The boom bust thing is indicative of cartel power. The political problem is, people don't want their particular cartels messed with; they like their freebie rents and so we are stuck with it until a majority grock that these things really don't serve their interests.

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